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BOO share crash forecast: 50p soon
BOO Share Crash Forecast: 50p Soon
The online fashion retailer, Boohoo Group Plc (BOO), has been in the news for all the wrong reasons lately. The company has been accused of exploiting workers in its supply chain, and its share price has taken a hit as a result. The share price has fallen from a high of 433p in June to around 200p in early July. However, some analysts are predicting that the share price could fall even further, to as low as 50p.
The allegations against Boohoo are serious. The company has been accused of paying workers in its supply chain as little as Â£3.50 per hour, which is well below the minimum wage in the UK. The company has also been accused of poor working conditions, including workers being forced to work in unsafe conditions during the Covid-19 pandemic.
These allegations have led to a number of retailers, including Next, Asos, and Zalando, to stop selling Boohoo products. This has had a significant impact on Boohoo’s share price, which has fallen by more than 50% in just a few weeks.
However, some analysts are predicting that the worst is yet to come for Boohoo. They believe that the company’s reputation has been irreparably damaged, and that consumers will no longer want to buy its products. This could lead to a significant drop in sales, which would have a further impact on the share price.
In addition, there are concerns that Boohoo’s supply chain issues could lead to legal action. The company is already facing an investigation by the UK’s National Crime Agency, and there are fears that other regulatory bodies could get involved.
All of these factors have led some analysts to predict that Boohoo’s share price could fall to as low as 50p. This would represent a significant drop from the current share price of around 200p.
Of course, it’s important to remember that these are just predictions. The future is always uncertain, and it’s impossible to know for sure what will happen to Boohoo’s share price in the coming weeks and months. However, it’s clear that the company is facing some serious challenges, and investors will need to keep a close eye on developments in the coming weeks.
In conclusion, the allegations against Boohoo are serious, and they have had a significant impact on the company’s share price. While it’s impossible to know for sure what will happen in the future, some analysts are predicting that the share price could fall even further, to as low as 50p. Investors will need to keep a close eye on developments in the coming weeks to see how this situation unfolds.