Shares in Landing International Development Ltd. continued to fall through the end of last week on the news that the company still could not located its chairman, Yang Zhihui. The plummet was the largest single-week drop for the company and leads many to wonder what lies ahead for the company.
Shares had already fallen due to rumors surrounding the company. When Yang went missing in action, with reports of a possible apprehension by police in Cambodia, things took a turn for the worse.
When the Hong Kong Stock Exchange, where Landing shares are traded, closed on Friday, the company’s share price had dropped to $0.40. This followed a drop a day prior from $0.73 to $0.479 within 90 minutes. When that freefall started, Landing requested that the stock exchange suspend trading. As of Friday, the company’s market capitalization was reported as $1.18 billion, a drop of 74% since April.
Within just a week, the share price has dropped a total of 42%. Since January, the stock has continued a decline, falling 83% in total.