When, four years ago, Morgan Stanley analysts expressed concern about corporate governance at Sports Direct and slashed their estimate of its share value by 20 per cent to 700p, those shares stood at 620½p. In the event, even that cautious assessment has proved optimistic. Last night the stock closed at 238¼p, down 25¼p on the day, after Mike Ashley’s company rattled investors by delaying publication of its annual results.
When, four years ago, Morgan Stanley analysts expressed concern about corporate governance at Sports Direct and slashed their estimate of its share value by 20 per cent to 700p, those shares stood at 620½p. In the event, even that cautious assessment has proved optimistic. Last night the stock closed at 238¼p, down 25¼p on the day, after Mike Ashley’s company rattled investors by delaying publication of its annual results.
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