Stock in a Hong Kong-listed marble miner fell 98% in one morning before trading was halted
After a near 40-fold increase this year, Hong Kong-listed ArtGo was on the verge of inclusion in influential indexesA marble-mining stock crashed 98% in a morning, shedding $5.7 billion of market value, after MSCI Inc. dropped plans to add the Hong Kong-listed company to its indexes.
Thursday’s implosion at ArtGo Holdings Ltd. is the latest in a series of boom-and-bust episodes involving smaller listed Hong Kong stocks. It came a day after The Wall Street Journal published a column highlighting the shares’ nearly 40-fold increase in 2019.
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