Home > Life > Maple Leaf Foods Hit Hard due to Listeriosis

Maple Leaf Foods Hit Hard due to Listeriosis

The Listeriosis outbreak has become headline news on the television and in the newspapers. Everyone is frightened and outrage not understanding why or how Maple Leaf Foods has let this happen. It is kind of easy to let it happen though, all you have to do is not clean a machine for a day or two and voila, there you have it. The outbreak of Listeria monocytogenes bacterium found in a couple of meat products from Maple Leaf Foods are the causes of ten deaths in Canada: 8 in Ontario, 1 in BC, and 1 in Alberta.
The outbreak is obviously bad news for Maple Leaf Foods and no doubt is a bad thing for any company that deals with food. Maple Leaf Foods have now recalled practically ALL of their products ranging from raw meat to cold cuts. The outbreak has now been linked to one of the processing plants in Ontario that Maple Leaf Foods owns.
After this outbreak has been announced, no one (and I checked) has been buying any type of meat at grocery stores except for fish. It looks kind of weird watching how a grocery store looks when everyone is on one side of it looking at the fruits, vegetables, and wheat products while no one (except for the random kid running around with snot on his nose) is in the meat department. It was very informative for the president or CEO to make a commercial about the outbreak apologizing for what has happened and publishing public apologies in newspapers and such.

The outbreak has taken a major toll on Maple Leaf Foods. Its stock went down hard.
On August 18th when the stock market in Toronto opened, the shares for Maple Leaf Foods were being traded at $10.97 with 39 000 shares being traded.
Buy the end of the week though, trading went up six-fold as 238 500 shares were traded at $9.80.
When the announcement came, panic stepped in and the shares dropped to $7.60 with about a million shares being traded.
The stock price dropped four dollars from August 18th to August 22nd, that is not good.

Somehow though, the company has rebounded and now its trading at around nine dollars a share.

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: