Why China Unicom Stock Fell Today
Shares of China Unicom (NYSE: CHU) plummeted after the New York Stock Exchange said in a statement late Wednesday that it would move forward with delisting the Chinese telecom company and some of its peers. The tech stock fell by as much as 13.8% Thursday and was down by 11.4% as of 3:30 p.m. EST.
For some tech investors, the latest decision by the NYSE is a frustrating one. The exchange initially planned to delist China Unicom in response to an executive order from President Trump. It then reversed that decision earlier this week and announced that China Unicom and other Chinese telecoms wouldn't be delisted. But with this latest announcement, the NYSE has reversed course once again.
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