Matson shares plummeted Tuesday after the containership and conro owner delivered a disappointing earnings report and suffered an analyst downgrade.
By midday trading, the shares fell 19.4% to hit $33.43 on the New York Stock Exchange, which amounts to a market capitalisation slump of about $345m.
The drop came after the Hawaii company reported that its third-quarter profit dropped to $25m, down 39.8%
