The stock of Yoast Holdings Inc., the Korean real estate company, has been down more than 20% in the last week.
Yoast shares fell more than 1.5% to US$9.26 in Tokyo on Thursday after the company reported a record $1.9 billion loss for the year ended June 30.
The company said it lost US$2.8 billion in revenue in the first nine months of this year, a sharp decline from the record $3.7 billion revenue it had reported for the same period last year.
Yoams shares fell $1 to US60.40 in the latest trading session.
Yoasts stock fell 6% after the news was announced on Thursday.
Yooms shares fell 3% to a low of US$57.20 in the early hours of Friday, after trading on Thursday afternoon was halted because of a government shutdown.
Yoas share price was also down 3.6% to the US$6.85 price at which it closed on Thursday, according to the Korea Exchange on Friday.
Yoans shares have dropped more than 80% since last year when the stock rose more than 8%.
A recent report from investment bank UBS that predicted Yoast would lose $1 billion to $2 billion in 2017 due to a global economic slowdown is a major blow to the company’s prospects, analysts said.
“If Yoast fails, the market may fall significantly,” said Sungjin Lee, an analyst at BNP Paribas in Seoul.
“The company has lost billions of dollars on a single-year investment, which will have a negative impact on its financial performance.
Yoasm has been a well-known name for the past few years.
However, it is now losing so much market share, that it has no hope for profitability in the future.”
The Yoast stock plunged 6% in early afternoon trading after the Wall Street Journal reported that Yoast had been sold off by the Chinese government and could lose up to 10% of its market value if the global economic recovery continues.
Yoaster shares fell to $7.60 on Thursday before the news, falling 5% to $6.90 on Friday after the trading session was halted.
Yoasty shares have fallen nearly 4% this year after the US dollar plunged to an all-time low against the yen and the euro.
Yoasta shares fell 9% in July and the stock is down almost 7% since the start of the year.