Shares in a Cheshire IT and communications company used by the likes of Boohoo have dived to less than 1p each.
The price of shares in CloudCoCo, which is headquartered in Warrington, are now trading at 0.95p following a 15.5% fall so far today.
They are now at their lowest point since July 2019 when they fell to 0.35p.
CloudCoCo’s clients also include Mills & Reeve, Diabetes UK and Strata.
It completed its float on AIM in April 2013 and its shares reached an all-time high of 25.7p in the following month.
However its share price has been on a downward trajectory ever since and are down by 35.5% in the year to date.
Chief executive Mark Halpin and his wife Caroline are the largest shareholders in the company with a stake of just under 20%.
Strategic advisor Mark Ward holds 15.5% of the shares while MXC Capital has a holding of 10.63%.
Non-executive chairman, non-executive director Andy Mills and Hargreaves Lansdown Asset Management also have stakes.
The fall comes after CloudCoCo announced its half-year results at the end of June for the six months to March 31, 2022.
The accounts showed an increase in revenue of 183% to £11.6m while its pre-tax losses widened from £669,000 to £1.5m.
At the time, Mr Halpin said: “To have made this level of strategic and commercial progress in such a short space of time, including most notably the successful correction of the acquired Connect business to monthly breakeven ahead of schedule, is a significant achievement and testament to the quality and teamwork of our people.
“The integration and optimisation of our four acquisitions is now largely complete, and with that we are moving through the second half in a strong position, with all parts of the group pulling in the same direction and on an exciting trajectory.
“We are now a very different proposition to a year ago, with an expanded customer base; increased capability; significantly larger sales, support and technical teams; a focus on cross-selling; and several forward-thinking strategic initiatives that are already delivering.
“With the marked headway that has been made, we expect to see additional growth in trading performance in the second half as our pipeline of larger multi-year deals is continuing to grow.
“There is still work to be done to enable the group to reach its full potential and the macro-economic environment remains unpredictable, but with the hard work that has taken place in the first half to lay the foundations for sustainable and profitable growth in the future, we are confident of continued progress in the second half and moving into FY23.”
