Shares of SMJ International Holdings Inc. fell 24.2% on Friday after the company’s stock experienced unusual trading activity on the NYSE American.
The New York-based flooring business, which trades under the ticker SMJF, said it could not determine the cause of the atypical activity following an internal review. In a statement issued under Section 401(d) of the NYSE American Company Guide, SMJ stated it had no knowledge of any material non-public information or undisclosed developments that could explain the decline.
SMJ International, headquartered in Singapore, distributes premium flooring products including carpet tiles, roll carpets and luxury vinyl tiles under its SMJ brand. The company operates in Singapore and more than 20 countries, primarily in Asia.
The stock closed at $1.13 on Friday, down $0.34, or 23.13%, following the unusual trading. The company did not specify whether corrective measures were required or provide further details on the investigation’s progress.
