PNJ Jewelry Giant Sees Market Cap Plummet by Over 4.2 Trillion VND

Vietnam's leading jewelry retailer, Phú Nhuận Jewelry (PNJ), has experienced an eight-session losing streak, including four consecutive days of hitting the floor price. This has led to a market capitalization drop of approximately 4.2 trillion VND (25%). Recent announcements of significant provisioning and a private placement plan have fueled market concerns.