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

Pacific Edge's plunge helps NZX50 to lowest level in 10 weeks
Big news drove investors directions today. (Image: Getty)
Graham Skellern
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 –...

More Markets

NZ sharemarket rises with gentailers leading
Markets Market close

NZ sharemarket rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 09 May 2025
Steven Joyce to chair NZME
Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on. 

Staff reporters 09 May 2025
NZME set to take on Trade Me for car sales
Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 09 May 2025
Bremworth getting back into synthetics
Primary Sector

Bremworth getting back into synthetics

Albeit in a small, but carefully curated, number of products.

Riley Kennedy 09 May 2025