# I do not quite get a phrase that I read in the Financial Times today.

"a share that has fallen by 95 per cent has fallen by half since it has fallen by 90 per cent"

Can you explain the logic behind that?

When the share price has fallen 90% from some price P, the current price is P $\cdot$ 10%.
When it has fallen 95% from some price P, the current price is P $\cdot$ 5%..
P $\cdot$ 5% is half of P $\cdot$ 10%.
As the share price falls from P, it will first pass through P $\cdot$ 10% before reaching P $\cdot$ 5%. So if we obsere the time period from when the price was P until it was P $\cdot$ 5%, it has hallen 95%. But if we observe the time period from when the price was P $\cdot$ 10% until it was P $\cdot$ 5% the share price has fallen by half.