IAG’s stock price plummets despite gaining 15%.
BarcelonaShares in IAG, the parent company of airlines such as Iberia, British Airways, and Vueling, fell more than 10% on Friday despite the group’s profits increasing by 15% in the first nine months of the year, reaching €2.703 billion. The holding company also announced new shareholder payouts. In fact, it will distribute a gross dividend of 4.8 cents per share on December 1st. Despite the released data, IAG shares were among the worst performers on the market. The session began with a 6% drop, which later widened. The group’s CEO, Luis Gallego, stated during the press conference presenting the third-quarter results that the stock remains “undervalued” and attributed this to market…
