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Zip Shares Slide 50% After Flagging Costs Tied to US Fraud Event
Source: Bloomberg
FintechCompany FundamentalsCybersecurity & Data Privacy
Zip Co. shares roughly halved after it flagged A$10.1 million (US$7.1 million) in expenses tied to an external fraud event in the US. The reported share-price decline signals a substantial negative reaction to the incident and its expected costs.
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