It’s been a good year for the local sharemarket. The NZX 50 index is up 11.0 per cent so far, which sees it on track for its best year in four. Most of our biggest companies have performed well, but one notable exception is Spark. It’s share price is down more than 40 per cent in 2024, making it one of the biggest decliners across the entire exchange. There are several reasons for the disappointing performance. Some of these are a function of the economic backdrop, while others are of the company’s own making.