Atlantic Sapphire cited stock market turbulence over the past six months for its stock price woes. The firm's shares closed at new low on Monday.

Shares closed the day at NOK 27.40 (€2.78/$3.02), the lowest price at the close of business since the company went public.

It could have been worse, however: the share price slipped to NOK 27.25 (€2.76/$3.00) during the trading day.

Normally executives don't comment on the company's share price, but during the company's monthly call with investors on Monday, Atlantic Sapphire CEO Johan Andreassen provided some context.