The stock of one of the world’s largest software companies has fallen by almost 50 percent, as investors worry about its future.
L3Harris Technology Inc., which has more than 6,000 employees, announced Thursday that it would be going into voluntary liquidation, which could lead to a loss of $20 billion.
The company said it will continue to provide software and services for businesses and consumers worldwide.
L3Harrys stock closed at $39.25 on Thursday, down nearly 30 percent from its peak of $54.20 on Dec. 20.
The stock has declined in recent weeks as investors question whether the company can keep up with technological advances and how much it can expect to charge for its products.
L2Harris, which makes software for companies such as Facebook and Alphabet Inc.’s Google, had a market value of $2.3 billion in 2016, according to FactSet data.
The loss is a setback for L3 and its shareholders, who have had to pay more than $100 billion in dividends since 2015, and the company’s executives.
The company was valued at $1.6 billion at the start of the year.
L4Harris stock closed down nearly 2 percent to $20.24.
The technology company had a valuation of $4.5 billion at its peak.