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Samsung’s stock plunges to biggest ever price decline, but analysts see a bottom

Samsung Electronics Co. Ltd. stock plunged Monday to suffer its biggest one-day price decline in the South Korea-based technology giant’s 28-year history as a public company, in the wake of the warning from U.S. regulators to stop using the latest smartphone.

The company launched the Galaxy Note 7 in August and later issued a global recall after finding that the phone may explode as a result of faulty battery cells. But despite the hit to the stock, J.P. Morgan analysts said they don’t see a bottomless drop.

The analysts say they expect the stock to remain little changed from current levels in the near term.

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