Thailand's Red Bull rival Carabao slumps weighed down by overseas expansion

Thailand's Red Bull rival Carabao slumps weighed down by overseas expansion

Empty cans for Carabao energy drink sit on shelves inside a storage room at the Carabao Group Pcl plant in Chachoengsao, Chachoengsao Province, Thailand, on Saturday, Dec. 2, 2017. Photographer: Brent Lewin/Bloomberg

The onetime top soft-drink stock in the world is now the industry’s worst-performing equity.

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