2024-07-12 19:00:04 +0300

Once-Unstoppable Glove King Loses Billions After 89% Stock Crash

Bloomberg

For a moment, Lim Wee Chai’s ascent looked unstoppable.

His Top Glove Corp. grew bigger than Malaysia’s banks, telecommunication firms and even the state-owned electricity company during the Covid-19 pandemic. Its stock price soared 450% through the first seven months of 2020, leaving high-flyers like Moderna Inc., Zoom Video Communications Inc., Peloton Interactive Inc. and Carvana Co. in the dust and making Lim a billionaire several times over.

#pandemic #electricitycompany #glove #unstoppable #sevenmonths

Continue read on bloomberg.com

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