Chinese Can't Afford Bubble Tea! Tea Titan Crashes, $4 Billion Wiped Out
Chinese Can't Afford Bubble Tea! Tea Titan Crashes, $4 Billion Wiped Out
Udumbara
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Can you believe it? While Mixue is sweeping the country with 3-yuan ice cream, a former industry leader is quietly falling—its stock price has plunged by more than 90%, and its market value has evaporated by 30 billion yuan. That company is Nayuki Tea, the first publicly listed brand in the new tea beverage market.
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