“China Evergrande crashes 87% to become a penny stock as the former $50 billion real estate giant reveals more steep losses”
August 29, 2023
“…
- Shares of China Evergrande crashed 87% as trading resumed after a 17-month halt.
- The once-$50 billion property developer faces a massive debt load and a troubled balance sheet.
- On Monday it became a penny stock after reporting a loss of 33 billion yuan in the six months ending June 30.
…”
https://finance.yahoo.com/news/china-evergrande-crashes-87-become-221139544.html