Three-day rout wipes $8.5b off Xiaomi stock

[tacobell fan]

Xiaomi Corp.’s bad week got worse Thursday as more investors rushed to sell as soon as they could. The stock closed 3.6 percent lower in Hong Kong, taking its three-day decline to 17 percent, or $6.2 billion in market value. Analysts at Goldman Sachs Group Inc. and China International Capital Corp. were the latest to cut their price targets on the Chinese smartphone maker, joining at least five others who have tempered their estimates just this week.

Billions of Xiaomi shares have been unlocked for sale after the six-month lockup period that followed the company’s debut expired. That’s enabled many shareholders, who could only watch as the stock shed $14 billion in market value, to finally join the selling. A flurry of off-exchange block trades showed that some have taken the opportunity to offload the stock, even though Xiaomi is nowhere near its HK$17 listing price.

 

[tacobell fan]

 

 

[tacobell fan]

Xiaomi, once dubbed the 'Apple of China,' has lost 40% of its value since its IPO last year

https://www.cnbc.com/2019/01/16/xiaomi-apple-of-china-has-lost-25percent-of-its-value-this-year-.html

[BeerBob123]

ok cool

recession cummmmmming

@SamosaChai

[Roll_Tide]

tirupati lo plant?

[tacobell fan]

4 minutes ago, Roll_Tide said:

tirupati lo plant?

it's not Xiaomi's if i'm not wrong.

[PsycoKamarao]

9 hours ago, Roll_Tide said:

tirupati lo plant?

secretariat ki pipes break chesinattu Tirupati plant pipes kuda Jagun ye cut chesadu dani valla 8.5 B loss 

[SamosaChai]

9 hours ago, BeerBob123 said:

ok cool

recession cummmmmming

@SamosaChai

Yeah debits anni clear cheskoni full money hand lo pettukovali so we can invest when stocks hit rock bottom 

get ready!!