The value of Icelandic biopharmaceutical company deCODE Genetics has dropped by 56.7 percent in one week on the NASDAQ stock market in New York. Last night each share in the company was worth USD 0.42 (EUR 0.30), which is a record low.
According to Morgunbladid, investors are concerned about the company’s liquidity.
In the past year the value of stocks in deCODE peaked in December at USD 4.40 (EUR 3.11) per share, Fréttabladid reports.
UK paper The Guardian reported that deCODE’s stocks were trading for as much as USD 65 (EUR 45) on Iceland’s unregulated gray market in 2001 before the company was listed on NASDAQ.
In July deCODE enjoyed an upswing in stock value on NASDAQ.
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