Shares in Iona Technologies have started to show some sign of life today, rising nearly 5% in early Nasdaq trading to $14.15 at 6pm Irish time.
A profit warning on 27th July saw the company's share price plummet rapidly from around $25, to hit a year low of $13.35 last week. At its height this year in January, Iona shares were worth $87.
Following the release of second quarter results in July the company downgraded revenue growth forecasts for the year to 25-30% from 45-50%. In May the company cut 175 jobs.
On Dublin's ISEQ, Iona shares were up 3% to 15 euros at the close of business.
