Top Glove Maker Loses $16 Billion in Value From Pandemic Peak
Inside a Top Glove Corp. factory in Setia Alam, Malaysia.
Photographer: Samsul Said/BloombergThis article is for subscribers only.
The world’s largest rubber glove maker has lost $16 billion in market value since the height of the pandemic as countries around the world shed their Covid-era restrictions.
Malaysia’s Top Glove Corp., one of the hottest trades during the virus outbreak, has seen its shares plunge 88% from a peak in 2020. Softer demand due to vaccine rollouts, rising input costs and competition from rivals are hurting the firm’s earnings, analysts say.