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Why China Telecom Stock Tanked Today

TheMotleyFool

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Why China Telecom Stock Tanked TodayPhoto, wide shot, wide-angle lens, Mobile phone network, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/828b91fb-678a-4621-906b-21e972059e7d.png

Shares of China Telecom (NYSE: CHA) tumbled this morning after the New York Stock Exchange once again changed its mind and said that it would delist the China-based telecommunications company from the exchange.

The tech stock fell by as much as 16.1% during trading this morning and was down by 15.9% as of 12:27 p.m. EST.

Investors are having whiplash today caused by the NYSE's back-and-forth decision to delist China Telecom, and two other China-based telecommunications companies, only to reverse that decision just two days ago, and now to implement it once again.

Source Fool.com

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