Reported 3 months ago
QXO Inc., once valued over $90 billion, saw its shares plummet by 81% to $11.25 in after-hours trading, resulting in a $36 billion loss in market value. This dramatic fall was triggered by increased share availability due to private placements, leading to significant selling pressure. The incident emphasizes how quickly market valuations can shift, especially in thinly traded stocks.
Source: YAHOO