Mellanox Drops Most in Two Weeks, Closing Gap With U.S. Shares

Mellanox Technologies Ltd. (MLNX), an Israeli developer of technology used to transfer and store data quickly, declined to the lowest level in two weeks, closing the gap with the U.S.-traded shares.

The shares of the Yokneam Elit-based company dropped 3 percent, the most since May 20, to 225.50 shekels, or the equivalent of $57.68, at 10:35 a.m. in Tel Aviv. The New York traded stock dropped 4.6 percent to close at $57.70 on June 1.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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