Metalink withdraws appeal to halt trading of its stock
The high-tech company Metalink, which handed in request to the Tel Aviv district court to halt the trading of its stock on the Tel Aviv stock market, withdrew the request Thursday, at the suggestion of the presiding justice.
The company's stock plummeted by 7.7 percent Wednesday, and the company requested not to renew trading until the New York stock exchange had resumed regular activity, citing damages caused to its American investors.
Metalink is one of the 13 dual stocks traded both on the TASE and the Nasdaq, and claims that the bulk of its investors are on the Nasdaq market. Therefore, it fears that when the NYSE reopens, its investors will discover that they have lost vast amounts of money, due to being traded on one index only.
Currently, there is little trading in the stock, and it is currently stable.
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