In line with the 29.4% decline in its share price in London, Glencore shares have been obliterated in Hong Kong trade today, falling 27.69% to HKD 8.88.
It also takes the decline from the 2011 high of HKD 68.20 to 88%.
While the number 88 is a lucky omen to some, it’s also fitting of the wealth destruction experienced by some shareholders.
For a full background on the troubles that have led to the spectacular plunge in Glencore’s share price, Business Insider’s Jim Edwards has produced an excellent piece that fills in all the details.
Business Insider Emails & Alerts
Site highlights each day to your inbox.