Chinese Amusement Park Operator Falls 90% a Month After Hindenburg Short
- Short-seller shared bet against Golden Heaven Group on Nov. 13
- Trading volume for the low-float company jumped on Thursday
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Golden Heaven Group Holdings Ltd. suffered its worst week on record, scoring a potentially major victory for Nate Anderson’s Hindenburg Research roughly a month after the short-seller took aim at the Chinese amusement park operator.
Shares have plunged 93% this week to an all-time low, its worst five-day stretch ever. The cause of the sudden decline isn’t immediately clear but Thursday’s record 89% plunge contributed to the weekly rout and a wave of volatility halts. The company’s market value has fallen to about $70 million from nearly $1.3 billion at its high.