Red (Ted) Flags at Night - Ted Baker CEO takes leave of absence at 4.27pm Friday
By Nigel Somerville | Sunday 9 December 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On Friday evening at 4.27pm – just as the city was packing its bags for the weekend – fully listed Ted Baker (TED) released an RNS announcing that its embattled CEO was to take a leave of absence. The shares, which had been trading at around £15.20, crashed into the close and ended the day on a spread of £14.58-14.79, and an official close of £14.93 – but I fancy there will be more weakness to come as the city returns to work on Monday.
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