🇨🇳 Chinese Cement Maker Stock plunges 99% within minutes, wiping out almost $1.8 billion in market capitalization.
The stock was 70% owned by a single controlling shareholder and their spouse!
HT
FinancialWorldUpdates
Discussion
They told him he was replaceable 🤣🤣
The fact that the stock was “locked” to 5 HK dollars prior is probably a tell. Do you know anything about this company? It could have been in bankruptcy and there had been an offer to buy equipment at a valuation of 5 dollars per share and news broke that the deal fell apart, etc.