Samsung shares tumble in response to Galaxy Note7 warnings
Samsung’s Galaxy Note7 phones are taking a serious toll on the company’s share price.
Samsung’s shares had dropped more than 6 percent on Monday, opening the week sharply lower following following dozens of reports of Samsung Galaxy Note7 smartphones exploding.
The issue was serious enough to warrant a warning from the U.S. Consumer Product Safety Commission (CPSC), which advised Note7 owners to “power them down and stop charging or using the device.”
The chart below shows Samsung’s shares opening lower right at the start of trading on Monday.
Image: google financeIn a statement provided to Mashable, the CPSC said it is working with Samsung to announce an official recall of the devices “as soon as possible,” and Samsung’s shares have since plummeted. Read more…More about Investments, Recall, Stocks, Gadgets, and Explosions
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