and early September -- came back to earth yesterday when they lost $3.50 to close at $10.

The plunge in the shares helped drive the exchange index down 10.47 points to 1171.74.

Commercial Bank shares, which soared from $6.50 to $14.125 between May and eqarly September, dropped from $13.50 to $10 on volume of 1600. It was only the second trade since the bank issued a warning the shares were overvalued.

Also losing value were Bank of Bermuda shares, which slipped 25 cents to close at $22.825 on volume of 385 shares.

The Bank's 9% notes also dropped a quarter to close at $107.50 on volume of 50,000 units.

In the only other trade of the day, Telco shares improved 37.5 cents to close at $40 on volume of 1109.