Chinese Solar Maker Plunges, Losing Nearly $19 Billion in 24 Minutes
Hanergy’s Collapse Caught Everyone by Surprise: Hong
By
Billy Chan
Updated on
The decline of Hanergy Thin Film Solar Group Ltd. was as spectacular and inexplicable as its ascent.
Just 24 minutes of Hong Kong trading erased $18.6 billion of market value and wiped out almost four months of gains that made it more valuable than Sony Corp. of Japan. Those increases came as analysts and investors questioned why, exactly, this stock was increasing in the first place.
