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After a meteoric rise on Monday, the share price of text messaging company Plus SMS Holdings plunged again yesterday.
On Monday, the shares closed up 11c at 27c each, - a 69 per cent rise which boosted the firm's market capitalisation to $93.6 million.
Market capitalisation had been $118 million before a share-price collapse in September after the company admitted making incorrect statements, founder Garry Donoghue and chairman Jim Bracknell quit and a Securities Commission inquiry began.
At one point on Monday, the shares rose as high as 29c on the back of trading of about 1 million shares.
However, the spike was short-lived, with even lighter trading yesterday of more than 635,000 shares, which lost much of the previous day's gain, closing down 7c at 20c a share.
The rise on Monday followed two positive announcements.
Plus SMS - which plans to enable firms to run global text-message campaigns and competitions using single codes - had unveiled a new group of managers that day.
On Friday, a new contract with the Democratic Republic of Congo was announced for mobile data services and 10-year rights to certain number ranges.
Chairman George Brooks said it was what the country code represented, rather than the country to which it related, that was important.
The Democratic Republic of Congo has the international country code 2(abc), 4(ghi) and 3(def).
The creation of a seven-digit portable number for commercial use would start with three letters, one from each number.
"The letters that come with that are quite significant in the characters and the words that they can make up."
