Samsung shares soar to an all-time high; company is now valued at $224 billion USD
Samsung's shares hit a new all-time high today
Back in August, a little more than two weeks after the introduction of the Samsung Galaxy Note 7, the company's stock price soared to an all-time high at the equivalent of $1480 USD a share. But once it became apparent that the phablet had some serious issues, sellers took over and knocked more than $14 billion off the company's stock market valuation.
There is also an attempt by institutional stockholders to change Samsung's structure into a holding company with an operating unit. This could potentially consolidate the power of the founding Lee family, especially if they exchange some of their current shares into holding company stock.
Samsung's shares closed Wednesday at the equivalent of $1,496.74 USD, up 4.2% on the day. The company now has a valuation of $224 billion.
source: Reuters
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