Thursday, December 18, 2014
BYD Electric Car Maker Stock Tumbled in Heavy Trading
CNBC news reported recently that Shares in BYD which is traded in Hong Kong plunged nearly 47% or more than $1.2 Billion. BYD in based in Shenzhen China and makes electric vehicles, batteries and mobile phone handsets. It also makes the Electric Bus in Lancaster, Ca. According to the Business News reports the company can’t account for the sudden drop in price. Stock price drops of this magnitude are most usually based on hard company information. So why the drop? It is not known at this time, but it appears someone knows something. The 20% increase in stock sales volume indicates something. Local news reports speculated it has something to do with the Russia, yet other news reports indicate BYD has little exposure to the Russian market as most of their sales are in the Chinese mainland.