Pacific Edge's plunge helps NZX50 to lowest level in 10 weeks

Big news drove investors directions today. (Image: Getty)

Wed, 07 Jun 2023

It was back to the future for cancer diagnostic firm Pacific Edge after its price plunged more than 75% during a down day for the New Zealand sharemarket.On its darkest day of trading in two decades, Pacific Edge ended well below its February 2004 price of 14.9c. It closed the day with a fall of 38.6c or 77.98% to 10.9c after coming out of a trading halt and seeing 25.4 million of its shares worth $2.81m being traded.Pacific Edge listed at 25c a share in late November 2002 – 15c was paid upfront and 10c deferred to September 2003 –...

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