This Chinese Blood Stock Lost $9 Billion in Just 10 Days
- Shanghai RAAS has endured a 65 percent decline this month
- As its stock investments have soured, company accrued losses
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Even by the standards set in China’s slumping stock market this year, this is extreme.
Shanghai RAAS Blood Products Co., which manufactures and develops human blood products, resumed trading this month following a suspension in February pending what the company referred to as a "major restructuring." Its shares have plunged by their 10 percent daily limit for 10 consecutive sessions, losing 63.2 billion yuan ($9.2 billion) in value.