Nov 11, 2023


A PT Huadi Nickel-Alloy Indonesia smelting facility in Indonesia.

Photographer: Dimas Ardian/Bloomberg

Breanna Bradham,

Drew Singer and

Yiqin Shen

Subscriber Benefit


A little-known Chinese pipemaker erased all of its dizzying rally from last week after announcing plans to sell 1 million shares at a massive discount to a pair of institutional investors.

Huadi International Group sank 91% Monday for its biggest drop on record, after an agreement to sell its stock to investors at $25 per share -- an 86% discount to Friday's closing price. This comes after the stock skyrocketed 716% last week amid volatile trading.