Shein Stock Falls 10% After Contact Lens Recall in Australia and New Zealand

TLDR

• Shein stock dropped as much as 10% in Hong Kong after a contact lens product recall in Australia and New Zealand.
• New Zealand’s Ministry of Business Innovation and Employment confirmed lenses tested positive for Burkholderia cepacia complex, a bacterial contaminant.
• The contamination was found in the solution used to package the lenses, not the lenses themselves.
• A UK user reportedly developed an eye infection linked to the product.
• The recall adds pressure to Shein following its rocky Hong Kong stock market debut earlier this month.

Shein stock fell as much as 10% in Hong Kong on Monday after Australia and New Zealand issued urgent recalls of one of its contact lens products.

Hong Kong-listed shares (625-HK) were trading 9.49% lower at HK$36.26 at the time of reporting.

The recall was triggered after a sample of the contact lenses tested positive for Burkholderia cepacia complex, a bacterial contaminant found in the solution used to package the lenses.

Shein shares fall 10% amid urgent recall of contact-lens cleaner by Australia, New Zealand https://t.co/Vw7OrKenwL

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