Samsung stockholders went scurrying for the exit on Friday when a research note from J.P. Morgan predicted that third-quarter shipments of the Galaxy S4 would be disappointing. The company lost about $12 billion in market value that day and edged further down on Monday. J.P. Morgan was not the only company to come out against Samsung. Other investment and brokerage firms, such as Shinhan Investment Corp., E*Trade Securities and Fitch Ratings, have either downgraded the company’s ratings or commented on its diminished prospects in recent days.
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Samsung Stock Plummets in Wake of Analyst Report
Posted by: Erika Morphy June 10, 2013 02:00 PMSamsung stockholders went scurrying for the exit on Friday when a research note from J.P. Morgan predicted that third-quarter shipments of the Galaxy S4 would be disappointing. The company lost about $12 billion in market value that day and edged further down on Monday. J.P. Morgan was not the only company to come out against Samsung. Other investment and brokerage firms, such as Shinhan Investment Corp., E*Trade Securities and Fitch Ratings, have either downgraded the company’s ratings or commented on its diminished prospects in recent days.