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China Evergrande Changes the Game on Wall Street By TipRanks

September 21, 2021
Source: upnewsinfo.com upnewsinfo.com
News Snapshot:
© Reuters. China Evergrande Changes the Game on Wall Street Debt-ridden China Evergrande’s (EGRNF) woes are changing the game on Wall Street this week from “buy the dips” to “sell the peaks,” which usually marks the begging of a bear market. Last week, the Chinese real estate giant warned that it is the target of a hostile media campaign, which could undermine its sales in September, prompting a big sell-off in its shares and bonds maturing in 2024. Unfortunately, things became worse by Friday as the sell-off spread into the shares of other Chinese real estate and property companies. (See...
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