Pacific Edge shares slump to five-month low as growth stocks remain under pressure

Thu, 10 Apr 2014

By Suze Metherell April 11 (BusinessDesk) – Pacific Edge shares slumped to a five-month low, as the local stock market joined a global sell-off amid concerns high-growth companies may struggle to convert sales into profits. Shares in the Dunedin-based bladder cancer text developer fell as much as 15 percent to $1.04, the lowest since Oct. 23, and were recently down 6.6 percent to $1.14. The shares have dropped 25 percent in the past month. Stocks on Wall Street sank yesterday, with the tech-heavy Nasdaq Composite Index recording its bigges...

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