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This was a result of consistent let down in expectations of shareholders due to manufacturing delays in trying to update its latest membrane module. Shortly after the announcement, shares immediately declined by $2.65 which meant an 11% decrease. In the last year, there has been a 26.67% loss in profits, putting the company into a very difficult financial position to pay out dividends...
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The company failed to meet their production levels and although the company believes it will be able to recover immediately for its production losses, it is believed that shares will continue to decrease as shareholders lose confidence after its many letdowns.
Since October 11, the price of Zenon shares has been on a rapid decline and is expected to continue declining throughout November...
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