Jun 22, 2022 05:35 PM

Bitcoin Tumble Sends Thai Tech Stock From First to Last in World

Photo: Bloomberg
Photo: Bloomberg

(Bloomberg) — Just two months ago Jasmine Technology Solution PCL’s shares were riding high atop the global communications equipment sector after a huge boom catalyzed by the Thai firm’s plan to embrace Bitcoin mining.

Now the picture is starkly different. A cryptocurrency rout has sparked a near-80% collapse in the stock since an April peak, lopping about $10 billion off its market value and leaving the firm pinned to the bottom of the group.

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