Why did Tele2 fall on 6 October?
Written after the close on
Tele2 −1.84%
Tele2 fell sharply as growth worries weighed. Over the last five trading days Tele2 fell sharply while the Stockholm market was roughly flat, so the weakness was specific to the company. The likely driver was a broker downgrade warning of slower growth, which landed during the week and pushed the shares lower. A share conversion that reduces voting power is administrative and would not explain a fall, and the third-quarter report is not due until later in October. Watch that report, the next scheduled company update, for whether the growth slowdown the broker flagged actually shows up.