Shares in Morrisons took a plunge yesterday after rumours began about another profit warning from the floundering retailer.
The price dropped 3.75p to 190.5p yesterday, reaching an eight month low, media reports have indicated.
If the rumours prove true, it will be the fourth profit warning from Morrisons since its acquisition of Safeway.
The retailer is expected to update the market on its position at its annual meeting on May 26. Broker Merrill Lynch is now urging its clients to sell Morrisons stock.
No comments yet