“Volvo shares tumble 14% to record low as Chinese owner Geely sells off stock”

“Volvo Cars shares tumbled as much as 14% on Friday morning after its parent company Zhejiang Geely Holding Group began a sale of around 100 million shares of the Swedish carmaker.

…Volvo shares are down 25% year to date… Geely will still hold 78.7% of Volvo shares following the sale, the statement said. Geely previously owned around 82% of Volvo, putting the sold shares at over 3%…

https://www.cnbc.com/2023/11/17/volvo-shares-tumble-to-record-low-as-parent-company-sells-shares.html