The Chinese company has lost billions of dollars in three days

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Photo: Valentin Ogirenko / Reuters

Chinese smartphone maker Xiaomi has lost three days in the order of $ 6.3 billion market value. The company’s shares on the stock exchange in Hong Kong fell by 17 percent, reports Bloomberg.

It is noted that the drop accelerated to 10 January as has expired a period of six months the ban on the sale of shares in an IT company, which began July 10, 2018 first day of the IPO.

Bloomberg suggests that the sale of shares Xiaomi may be related to the fact that many investors sold securities much before the official IPO and at a very low price — so, in 2010 you could buy for two Hong Kong cents. As of January 10, one share costs of 9.97 Hong Kong dollar.

In addition, experts attribute the decline in the market value of Chinese companies with the Goldman Sachs Group, China International Capital, who predicted the decline in profit margins Xiaomi because of the competition with Huawei and the slowing of the smartphone market in China.

Video, photo All from Russia.

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