Shares of Guzman y Gomez Ltd. tumbled by the most since their Sydney listing last year after the Mexican-themed fast-food chain flagged a sales slowdown in its Australian restaurants.
The stock plunged as much as 24% in afternoon trading in Sydney, at one point touching its A$22 initial public offering price. The rout was triggered after the company reported that sales in its Australia venues rose 3.7% in the first seven weeks of the current fiscal year, falling short of analyst expectations. That compares to growth of 7.4% during the same period a year ago.