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Australian Investment Blog

ASX:AYS 10/07/2018

ACCC cause Amaysim (AYS) fall

Stock

Amaysim (AYS) $0.90 as at 10/07/2018

Event

Amaysim is down heavily today following ACCC attacking Amaysim’s energy brand Click Energy for false and misleading advertising practices. The regulator pointed to marketing material from Click from last October showing discounts of between 7 and 29 percent where the ‘base rate’ used was significantly higher than standard rates for Click Energy customers. While ACCC chairman, Mr Sims, said the “conduct is among the worst practices we see in retail electricity marketing,” Amaysim responded to reject the claims. The matter is now before the Federal Court, with ACCC looking to penalize Click Energy for the alleged breaches.

Amaysim (AYS) Chart

AYS Chart

Market Matters Take/Outlook

MarketMatters remain negative Amaysim, targeting fresh lows.

By james Carter
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