ICZOOM Group Down 85% After Surge Since Late March and Canceled Securities Offering

Dow Jones04-18

By Josh Beckerman

Shares of ICZOOM Group were recently down 85% to $7.47 following a string of daily gains and news of a canceled securities offering.

Volume was more than 11.7 million shares, compared with a 65-day average of 487,593.

ICZOOM said in a securities filing that it was withdrawing a Form F-1 and said in a press release that current market pricing isn't conducive for an offering that would be in the best interests of the company or stockholders.

Shares closed at $8.08 on March 26 and then had higher closing prices for the next 14 trading sessions.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

April 17, 2024 13:29 ET (17:29 GMT)

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