Homepage
PR Newswire
30-10-2017, 03:43 PM
Biggest Stock Collapse in World History Has No End in Sight
By Kana Nishizawa and Aibing Guo
October 30, 2017, 12:00 AM GMT+8 October 30, 2017, 10:06 AM GMT+8
It’s going to take more than the biggest stock slump in world history to convince analysts that PetroChina Co. has finally hit bottom.
Ten years after PetroChina peaked on its first day of trading in Shanghai, the state-owned energy producer has lost about $800 billion of market value -- a sum large enough to buy every listed company in Italy, or circle the Earth 31 times with $100 bills.
In current dollar terms, it’s the world’s biggest-ever wipeout of shareholder wealth. And it may only get worse. If the average analyst estimate compiled by Bloomberg proves right, PetroChina’s Shanghai shares will sink 16 percent to an all-time low in the next 12 months.
More details in https://www.bloomberg.com/news/articles/...d-in-sight
By Kana Nishizawa and Aibing Guo
October 30, 2017, 12:00 AM GMT+8 October 30, 2017, 10:06 AM GMT+8
It’s going to take more than the biggest stock slump in world history to convince analysts that PetroChina Co. has finally hit bottom.
Ten years after PetroChina peaked on its first day of trading in Shanghai, the state-owned energy producer has lost about $800 billion of market value -- a sum large enough to buy every listed company in Italy, or circle the Earth 31 times with $100 bills.
In current dollar terms, it’s the world’s biggest-ever wipeout of shareholder wealth. And it may only get worse. If the average analyst estimate compiled by Bloomberg proves right, PetroChina’s Shanghai shares will sink 16 percent to an all-time low in the next 12 months.
More details in https://www.bloomberg.com/news/articles/...d-in-sight
Specuvestor: Asset - Business - Structure.