Shares in the cloud accounting software company were down 6.28 per cent shortly after 1.30pm and trading at $20.15 each.
This is less than half the record price of $44.98 which Xero shares hit in March.
Nice one. Another IT stock plummets earthward. Nothing less than I'd expect of a company trying to soar above the poppy field. IMHO built on clouds of hot air, appearing to be donkey deep in debt for years without making a profit.
I may be wrong, but the stock market has just clipped the wings of the would-be soaring eagle.