Asia's Worst Stock Loser Erases Thai Founder From Billionaire Status.

Somphote Ahunai, the founder of Energy Absolute Pcl, has lost his billionaire status after the company's stock experienced a significant drop. The stock has lost about 70% of its value this year, making it the worst-performing stock in the MSCI Asia Pacific Index. Somphote had attempted to diversify the company into a Tesla-like transport specialist, investing in battery production, car manufacturing, and charging-point installation. However, the company's earnings slump and negative cash flow have caused a loss of confidence among investors. Despite this, Somphote remains optimistic about the future of the electric vehicle industry. [Extracted from the article]