Reason why Synlait was sold off by the market today - market reads SML’s announcement as a sales downgrade:
Market roundup on interest.co.nz - “Darling dairy company A2Milk (ATM) is in an unexpected trading halt. The share price was $14.12 at that halt. Little has been revealed by them as to the reason, but Synlait (SML) has suggested A2Milk has sales level issues. SML's share price was at $5.40 before the announcement and has fallen almost -7% since in today's trading. Investors will be watching nervously for the updates by both companies.”