Jasco shares lost almost 5% of their value on Thursday after the company ended acquisition talks.
The company issued a notice late in the day saying the talks had been terminated, with no further details provided.
As a result, the Jasco share shed 13c or 4.7% to close at 266c. However, it had bounced back to 280c by 10am today after just one trade involving 700 shares.
CEO Joe Madungandaba and COO Martin Lotz were both in meetings today and could not be reached for comment.
Jasco issued a cautionary notice in March, saying it was in talks.
When it announced its February year-end financial results the following month, Madungandaba said the cautionary was issued as Jasco was "investigating certain meaningful acquisition opportunities".
The fall in the share price is despite a move by Jasco to reassure its shareholders in Thursday`s notice by reiterating statements made in April that key financial and operational indicators are strong, with all divisions on a growth path.
"The group is well positioned to capitalise on the strong organic growth opportunities in its particular markets," it added.
"The group has no gearing and remains committed to actively, but judiciously, pursuing acquisitions that will lead to long-term growth in shareholder value."
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