Contemporary Amperex Technology Co., Limited (CATL) plunged 7.4% to close at $6.85, making it the worst-performing blue-chip stock for the day.
- The sharp decline was attributed to sector-wide pressure on lithium stocks, after analysts from JPMorgan noted that recent developments have dampened investor sentiment in the industry.
- The move was part of a broader sell-off, with most other lithium battery-related stocks also declining significantly.