Shares in embattled estate agent McGrath fell more than 8 per cent on Monday to a new intraday low of 43¢ after Fairfax Media reported founder John McGrath had accumulated a $16 million gambling debt with bookmakers William Hill.
Mr McGrath has strenuously denied the story, calling it “ridiculous” but shares still fell sharply after opening at 47¢ – a far cry from its $2.10 float in December 2015.
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