Livedoor Co.'s stock price skidded to 85 yen Thursday as individual investors stepped up selling of the Internet services firm, which was raided by prosecutors last month on suspicion of securities law violations.
On the Mothers market for startups at the Tokyo Stock Exchange, Livedoor stock lost an additional 9 yen Thursday after sinking below 100 yen the previous day, setting a new low since its last split in August 2004.
Livedoor stock is now less than an eighth of the 696 yen it was fetching immediately before the raid and leaks began half a month ago.
The new low brings its market value to 89.2 billion yen, compared with 730 billion yen on Jan. 16, the day of the raid.
Livedoor partner Fuji Television Network Inc. has meanwhile seen the loss on its stake in Livedoor balloon to about 32.6 billion yen.
Trading volume in Livedoor stock came to 37.83 million shares, down slightly from Wednesday.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.