Xero shares plunge after FNZC downgrade, then stabilise
'Dominant' broker raises a red flag. PLUS: Mark Clare analyses the “Xero molecule” and the difference in approach between Aussie and Kiwi analysts.
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Hawke’s Bay
Xero reportedly complained at an analyst briefing about the dominance of one broker on the NZX – and NBR understands that broker is First New Zealand Capital.
It seems unlikely, then that FNZC endeared itself to Xero founder Rod Drury any further with its latest research note, issued yesterday,
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Xero shares plunge after FNZC downgrade, then stabilise
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