Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: Sir Auric Goldfinger who wrote (8001)	7/23/2001 11:08:24 AM
From: Sir Auric Goldfinger	Read Replies (1) of 19428

PolyMedica Shares Plunge After NYSE Reversal on Listing Stock Woburn, Massachusetts, July 23 (Bloomberg) -- Shares of PolyMedica Corp. fell as much as 33 percent after the biggest maker of diabetes test kits said its shares won't be listed on the New York Stock Exchange as it previously announced. Shares of the Woburn, Massachusetts-based company fell $10.73 to $36.80 in midmorning trading, after dropping as low as $32. The New York Stock Exchange told PolyMedica Friday morning that it changed its decision to list the shares and didn't give the company a reason, PolyMedica said in a statement released after the close of U.S. markets Friday. Trading of PolyMedica shares was halted Friday pending the announcement. PolyMedica is trying to find out why the exchange changed its position, said spokeswoman Sylvia Dresner. The company had announced July 9 that it expected to switch to the NYSE from the Nasdaq National Market beginning today. The NYSE said it would consider a new application, PolyMedica said. --Catherine Dodge in the Princeton newsroom (609) 279-4026, or at cdodge1@bloomberg.net / mfr

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