Rocket Internet: shares stumble after broker downgrade.
(CercleFinance.com) - Rocket Internet shares fell over 5 per cent on Monday after Barclays downgraded the German e-commerce investor, citing the "need for catalysts to unlock value".
The brokerage firm, which downgraded the stock to "equal weight," said it struggles to see why investors should put new money into Rocket today.
"A cash return remains possible and would be materially positive, but is certainly not the base case”, BarCap explained.
Rocket Internet shares were down 5.1 per cent, at 16.5 euros, in mid-day trading on the Xetra market, pushing the shares to their lowest levels in three months.
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The brokerage firm, which downgraded the stock to "equal weight," said it struggles to see why investors should put new money into Rocket today.
"A cash return remains possible and would be materially positive, but is certainly not the base case”, BarCap explained.
Rocket Internet shares were down 5.1 per cent, at 16.5 euros, in mid-day trading on the Xetra market, pushing the shares to their lowest levels in three months.
Copyright (c) 2017 CercleFinance.com. All rights reserved.