Hot stock: Cordlife Group drops 32% after it is found to have damaged cord blood units of customers

CORDLIFE Group dropped as much as 42.9 per cent in early trading to near its lowest level since its listing in 2012.

At 9.19 am on Friday (Dec 1), the counter had plummeted to S$0.26 with 163,300 shares changing hands. The last time the counter closed at this level was in March this year.

Friday’s tumble in the stock followed the news the day before that the Ministry of Health issued a six-month suspension notice to the consumer-healthcare company, after finding that seven of the company’s 22 cord-blood storage tanks were kept at temperatures above acceptable limits.