PNJ Stock Plummets, Loses Over VND21 Trillion in Market Cap, Falls Out of Top 100 Largest Firms

Vietnam's leading jewelry and precious metals company, PNJ, has seen its stock price plummet, losing over VND21 trillion (approximately $860 million USD) in market capitalization within three months and falling out of the top 100 largest listed companies. This decline is attributed to allegations of wrongdoing involving its subsidiary P-Lab and a significant downward revision of its business outlook.