CHART: Slater and Gordon's spectacular fall

Shares in Slater and Gordon have tanked this week, falling from a high of $2.650 on Monday to a low of 59 cents in the first half hour of trading on Friday. The 52-week high is $8.07.

The price has since recovered slightly, rising back above 70 cents.

Shares in the company dropped 51% on Thursday, after the UK government announced it would change laws relating to compensation cases.

The British government is proposing to limit compensation for road accidents, which accounts for up to 90% of Slater and Gordon’s UK business.

The company’s market capitalisation slumped more around $300 million due to Thursday’s sell off.

The share price also saw a single-day 25% drop in June after questions arose about the accounts of its UK operations.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.