02:27 PM EDT, 04/17/2024 (MT Newswires) -- ICZOOM Group ( IZM ) shares plunged more than 87% in recent Wednesday trading after the company canceled its proposed public offering.

"Current market pricing is not conducive for an offering that would be in the best interests of the company or its shareholders," ICZOOM ( IZM ) said in a statement.

The company sells electronic component products in Hong Kong and China through its e-commerce platform.