Analysis
Leaked letter: Farmer’s tweet preceded Bega share price rout
Tom RichardsonJournalist
A tweeting Victorian dairy farmer leaked a June 16 letter from Bega chairman Barry Irvin to regional farmers advising them it would pay more for milk in a blue that may have snowballed into a profit warning that sent Bega shares tumbling 9 per cent on Thursday.
Bega Cheese has refused to answer questions about how it thinks brokers UBS, Bell Potter, and Ord Minnett came to downgrade the stock on June 20, just two business days after the leaked letter to dairy farmers, with Perpetual selling 1.2 million shares between June 16 and 30.
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