Under-fire card insurance firm CPP suffered further shares pain as foul-mouthed comments by its founder over a mis-selling scandal hit the headlines.
Shares fell by more than a quarter on Thursday after City regulators unveiled a compensation package of up to £1.3 billion for victims and a further drop in Friday's session means they are now down by nearly half since the announcement.
It comes after Hamish Ogston, who owns a majority stake in the York-based firm, gave a combative response to the action by the Financial Conduct Authority (FCA), describing the sum as "b******s" and a "ridiculous figure".
Shares have now plunged from 20.3p to around 13p since the FCA announcement - wiping more than £13 million from its stock market value.
The losses mark the latest slump in the company's stock since its heyday in 2010 when its market float netted Mr Ogston a reputed £120 million. The value has since plummeted as the mis-selling scandal emerged.
Seven million victims are in line for compensation after the FCA announced the £1.3 billion redress package over the affair, involving CPP together with 13 high street banks and credit card companies.
The companies have agreed to offer redress for mis-sold credit card and identity theft protection policies.
Barclays, HSBC and Royal Bank of Scotland are among those to have signed up to the scheme, which will cost up to £1.3 billion.
The scandal involved 23 million policies and saw customers given misleading and unclear information about the insurance. CPP has already been fined £10.5 million.
But Mr Ogston appeared to lack remorse after the compensation announcement, which will see millions of customers contacted by the company.
The entrepreneur, who stood down from York-based CPP's board in June but holds a 57% stake in the business, accused the FCA of "sensationalism, by quoting a huge 100% rate".
He suggested the scale of overall compensation paid out would in reality be much smaller than the headline figure.
When asked if he was sorry over the scandal, which ran from 2005 to 2011, Mr Ogston refused to comment.
CPP was recently handed a three-year £36 million funding lifeline by its lenders.
Its new debt facilities are based on 25% or fewer victims making successful claims - a figure which exceeded could see it breach banking covenants.
The company has set aside £54 million to cover the cost of the scandal.
It said it would only be responsible for compensating customers it sold to directly.