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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