Shein shares fall 10% amid urgent recall of contact-lens cleaner by Australia, New Zealand
12 Articles
12 Articles
Shein slump deepens as stock tumbles 25% below IPO price
Shein Global Holdings saw its shares plummet to their lowest level since listing two weeks ago, falling as much as 10 per cent in Hong Kong trading on Monday, slammed by an “underperform” rating from Jefferies and product safety recalls in Australia and New Zealand. Shein closed down 9 per cent to HK$36.40 on Monday, the lowest since its September 1 debut on the Hong Kong stock exchange. The high-profile stock has been on a downward spiral and i…
Following regulatory inspections, the product is no longer available in Australia and New Zealand. Only one case of infection has been reported so far.
Shein's share price fell significantly on the Hong Kong stock exchange after one of the company's contact lenses was recalled in Australia and New Zealand due to bacterial contamination, CNBC reported.
Call back to Australia and New Zealand some contact lenses sold by Shein after the discovery of a bacterium: the case weighs on the Stock Exchange. Read more Contact lenses Shein recalled for a bacterium: the case weighs on the Stock Exchange on News.it.
Shares of fast fashion company Shein have fallen by up to 10 percent in Hong Kong after one of its contact lens products was withdrawn from sale in Australia and New Zealand due to possible bacterial contamination.
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