SPLAT.
Shares of currency exchange business OzForex Group Ltd (ASX: OFX) have been absolutely crushed today, falling $1.20 or 39% to around $1.88 a share. That compares to a 0.4% decline for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).
The plunge follows two announcements made by the group this morning. Firstly, it has terminated discussions with Western Union, which was considered a suitor for the business. Secondly, it made a significant cut to its forecast earnings for the 2016 financial year.
You can read more about both updates, here.
OzForex's shares have now fallen nearly 43% since the beginning of the year, while they're down 47% since peaking at $3.55 in November 2015.
