Dye & Durham Ltd. DND-T stock plummeted for the second time in a week Thursday after revealing that CIBC Capital Markets had backed out of leading the company’s sale process, three days after being announced as an advisor to the embattled real estate software firm.

The Toronto company said in a release that CIBC CM-T “has decided not to proceed as financial advisor,” adding the board was looking to hire a replacement and remains committed to a strategic process that could lead to its sale.

Dye & Durham stock dropped more than 18 per cent, hitting an all-time low of $4.20.

The stock also fell sharply on Monday after ex-chief executive officer Matt Proud withdrew his offer to buy the company for $10.25 a share . It has shed more than one-third of its value this week and is down 75 p

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