Is the Webjet share price really sinking 12% today?
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The Webjet Ltd (ASX: WEB) share price is falling heavily on Monday.
At the time of writing, the online travel agent and bedbank company’s shares are down 12% to $7.24.
Why is the Webjet share price being hammered?
Thankfully for shareholders, today’s decline has not been driven by a bad update or a broker downgrade.
In fact, today’s decline could actually be classed as good news for its shareholders.
That’s because it has been caused by the demerger of its business to consumer (B2C) business into a separate listing – Webjet Group Limited (ASX: WJL) – and the renaming of Webjet Ltd to WEB Travel Group.
Earlier this month, the company’s shareholders voted overwhelmingly in favour of the move, which sees…
