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BYD Stock Plummets Amid Price War Fears, $45B Market Cap Evaporates
BYD Stock Plummets Amid Price War Fears, $45B Market Cap Evaporates
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BTCCSquare news:
BYD's Hong Kong-listed shares have plunged 30% from their peak, erasing $45 billion in market value as analysts sound alarms over its aggressive discounting strategy. The U.S.-traded ADRs (BYDDY) followed suit with a 20% quarterly decline, underperforming rivals Tesla and Xpeng in China's cutthroat EV market.
Government warnings about 'involution' - the destructive cycle of simultaneous production expansion and price cuts - compound investor concerns. 'The sector is cannibalizing margins to chase volume,' observes a Hong Kong-based auto analyst, noting BYD's sell ratings have hit a two-year high.
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