Business Maverick: Bitcoin tumble sends Thai tech stock from first to last in world

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 84%

Business News News

Business Business Latest News,Business Business Headlines

Jasmine Technology's bad bet on Bitcoin mining has bombed after a cryptocurrency rout sparked a near-80% collapse in the stock since an April peak, lopping about $10-billion off its market value.

Just two months ago Jasmine Technology Solution Pcl’s shares were riding high atop the global communications equipment sector after a huge boom catalysed by the Thai firm’s plan to embrace Bitcoin mining.

The reversal for a company that earlier was one of the most valuable in Thailand is an extreme example of how the crypto shakeout is bleeding across into more conventional markets. It’s also a warning about the risks that come with trying to ride the volatile and speculative digital-asset wave.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

 There is know greater joy than having financial freedom and a life free of debts,that’s why l keep posting comments about Brian_Meadors0 who guided me trading online

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines