Samsung, the world-famous manufacturer of computer electronics from South Korea, saw its market capitalization shrink by as much as over 22 billion dollars in a matter of just 2 trading days. This happened amid a scandal with the new smartphone named Samsung Galaxy Note 7, Masterforex-V Academy reports.
According to the data provided by Masterforex-V Academy experts, the company’s stock started losing value on Friday. This happened instantly after U.S. citizens were recommended not to use Samsung Galaxy Note 7.
According to the market data taken on September 8, 2016, one share of Samsung’s stock cost roughly $1 487. On Monday, the price collapsed all the way down to $1 329. With that being said, the stock lost $158 per share over the weekend. Given the total amount of shares in the stock, this further translates into the mentioned $22bn loss.
Meanwhile, the international expert community calls this a true nightmare for Samsung since the U.S. is a major outlet for the company. At the same time, they say Samsung investors are worried that all Samsung devices can be banned onboard a plain for security reasons.
Masterforex-V Academy informs you that on September 2nd, Samsung suspended the sales of Samsung Galaxy Note 7 and started calling back the copies sold in August. The thing is that over the last few weeks, some users of those new smartphones have been reporting multiple cases of their devices bursting into flames all of a sudden when being charged. As we have already mentioned, the U.S. authorities warned the citizens against using those devices for security reasons. Before that, the U.S. and some other countries banned Galaxy Note 7 from using onboard airplanes for the same reasons.
