Samsung’s Stock Takes A Massive Hit Over Galaxy Note 7 Recall

Samsung’s Stock Takes A Massive Hit Over Galaxy Note 7 Recall

Aside from losing a whole lot of trust from its loyal customers, Samsung is starting to feel the repercussions of their current Galaxy Note 7 recall in the stock market.

Read: Samsung announces world-wide recall of Galaxy Note 7

Samsung’s stock took a massive beating in the Korea Exchange, seeing its biggest intraday drop since 2012, dropping at 7.6 percent. Factoring in the 3.9 drop last Friday, Samsung has lost a massive $19 billion dollars on the stock market because of the Galaxy Note 7 battery fiasco.

High-profile cases of phones exploding while being charged and the subsequent barring of the device in use while in flight with many major carriers has not helped matters, despite the recall notice of the Korean company and the calls to have the faulty phones exchanged as soon as possible.

While it’s not a question if the Korean company can recover from this debacle (they’re the #1 mobile brand in the world, after all) the question is how far will Sammy’s stock fall before it corrects itself?


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