Australia's Lark Distilling rebounds after CEO exit, eyes best day in 3 weeks

Lark Distilling

17/02/2022 01:29

** Shares of Australia's largest listed whisky-maker Lark
Distilling Co Ltd  LRK.AX  jump as much as 10.8% to A$3.99,
heading for their best session since Jan. 28
    ** CEO Geoff Bainbridge resigned on Wednesday after learning
the media had obtained a video of him apparently smoking
methamphetamine  urn:newsml:reuters.com:*:nL1N2UR08E 
    ** Bainbridge claims the video was part of a years-long
extortion plot  
    ** LRK plunged as much as 23.5% on Wednesday, closing 20.9%
down at A$3.6, their lowest level since July 7, 2021; shares
recovering some lost ground today
    ** About 1.1 mln shares traded so far, nearly 6 times the
30-day average
    ** Stock down by nearly a third YTD, as of last close

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))