Pluxee Shares Buck the Trend of the SBF 120 Following Proceedings in Chile
The employee benefits stock significantly drops in Paris, while the SBF 120 climbs into the green. The group's Chilean subsidiary is targeted by a local competition authority procedure, placing the stock against the general rebound of the Parisian market.
Pluxee Falls Following the Launch of Proceedings Against Its Local Subsidiary in Chile
Pluxee shares drop 2.94% to €11.55, while the SBF 120 gains 1%. The group has received notification of a complaint filed by the Chilean National Economic Prosecutor's Office before the Tribunal for the Defense of Free Competition, targeting its subsidiary Pluxee Chile for allegations of anti-competitive practices in the employee benefits market. This procedure places the stock at the bottom of the SBF 120 rankings, contrary to a bullish session in Paris. Direct competitor Edenred also falls, but to a lesser extent (-0.88%). Over the year, the stock has declined by 42.19%, reflecting persistent doubts about the stock since its spin-off from Sodexo. Today's loss brings the weekly performance to -4.23%, although the stock had maintained a slight quarterly lead of nearly 3% until now.
The Stock Falls Below Its 20-Day Moving Average and Struggles Against Its 200-Day at €13.38
Today's movement brings the price below the 20-day moving average (MM20) at €12.08, with a gap of -4.39%, after the stock had already tested this threshold on May 12th. The price is now approaching the support at €11.30, whose breach would pave the way for a return to the spring lows. The 50-day moving average (MM50) at €11.45 remains slightly below the current price, but the gap of 0.87% is narrow. Higher up, the 200-day moving average (MM200) at €13.38 represents a distant ceiling, nearly 14% away, reminding of the medium-term downward trend. The RSI at 51 remains neutral, with no extremes identifiable. In terms of valuation, the stock is trading at approximately 7.8 times the expected earnings for the current fiscal year according to the consensus of surveyed analysts, with a projected EPS growth of 3.4% from one year to the next. The holding of the support at €11.30 will be the point of observation in the coming sessions, as the contentious impact of the Chilean procedure unfolds.
