The Regional Express Holdings Ltd (ASX: REX) share price isn’t going anywhere on Wednesday.
This comes after the company requested a trading halt at market open.
As such, the airline operator’s shares are frozen at $1.215.
Why are REX shares in a trading halt?
The Regional Express share price entered a trading halt this morning pending an important announcement from the company.
In a statement to the ASX, Regional Express advised it is preparing to make a material announcement.
While the company has provided no further details, speculation is rife on what the release could be.
Regional Express states its shares will remain in a trading halt until an official announcement is made or trade commences on Friday 15 July.
Just yesterday, Regional Express responded to recent news articles regarding its interest in acquiring Cobham Aviation’s fly-in-fly-out (FIFO) operations.
The news sent Regional Express shares as high as $1.25 on the day before backtracking as the broader S&P/ASX 200 Industrials Index (ASX: XNJ) fell (0.37%).
Investors appear to be bracing for the June inflation report to come out of the United States tonight. In addition, the US domestic jobs data is due to come out on Thursday. This will give a clearer picture of the health of the United States economy.
Regional Express share price summary
Since this time last year, the Regional Express share price has moved in circles.
However, in 2022, the company’s shares paint a different picture for investors, down almost 12%.
Regional Express presides a market capitalisation of $133.83 million with approximately 110 million shares on its registry.
The post Why is the Regional Express share price in a trading halt today? appeared first on The Motley Fool Australia.
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More reading
- Regional Express shares hold steady amid response to fly-in fly-out takeover speculation
- Why this smaller ASX travel share is locking horns with Qantas over regulation
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- Why is this ASX travel share flying higher today?
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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