A2 Milk is out of favour with investors as its sales are hurt by disruptions caused by the Covid-19 pandemic. The sharemarket fell, weighed down by weakness in The a2 Milk Company as investors offloaded their holdings on expectations the specialty dairy company will downgrade its earnings guidance. A2 Milk dropped 5.6 per cent to $7.46, its lowest level in about four years. Investors were concerned Meridian’s low water storage levels may force the company to buy electricity off rivals, crimping margins, McIntyre said. The Dow Jones Industrial Average closed slightly lower, while small company stocks outpaced the broader market, a sign investors are feeling confident about the economy.

Source: Stuff April 27, 2021 06:11 UTC