PhotoMedex Surges Most on Record, Narrows Gap With U.S. Shares

PhotoMedex Inc. (PHMD), a maker of laser and fiber-optic systems used to treat dermatological conditions, surged the most on record, narrowing the gap with its U.S.- traded shares.

The shares surged 21.4 percent, the most since they started trading in Tel Aviv in May, to 50.63 shekels, or the equivalent of $13.14 at 2:25 p.m. in Tel Aviv. The New York-traded shares closed at $13.56 on June 15.

PhotoMedex is set to be included in the Russell 3000 and Russell Microcap Indexes when Russell Investments reconstitutes its U.S. indices June 25, according to a Business Wire statement on June 11.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.