STOP THE TAXI: Cabcharge Shares Fall 15% On Plan To Slash Fare Surcharges

A raft of recommendations on taxi industry reform were accepted by the Victorian government today, including a halving of the fee for electronic transfer payment from 10 to 5 per cent.

The market looked at Cabcharge, which makes its money by taking a big clip of electronic cab fare payments, and said: We’ll just get out here, thanks.

The share price recovered slightly in afternoon trade but was still down around 15 per cent for the session.

Here’s the chart, from investing.com.

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