LeEco (Leshi) halts stock trade amid cash crunch

[Ry]

LeEco Unit Eyes Changes to Business After Share-Trade Halt - WSJ

Leshi said in a statement to the stock exchange on Thursday that it halted trade before the market opened Wednesday because of local media reports that said its falling stock price had triggered margin calls on funds borrowed by Mr. Jia using his stock holdings as collateral. Leshi’s stock plunged 7.9% on Tuesday to close at 35.80 yuan ($5.20), wiping off some 6 billion yuan from its market capitalization. Its shares had traded north of 80 yuan in May 2015.

 

[B. Diddy]

Ooh, that ain't good.:-\