The
news
prompted
a
sell-off
of
AMSC
shares,
which
were
down
5.5%
in
early
Tuesday
trading
to
$8.06
compared
with
a
52-week
high
of
$38.88.
Shares
are
down
more
than
70%
this
year.
The
statement
by
AMSC
was
its
latest
acknowledgement
that
it
is
experiencing
serious
ongoing
problems
obtaining
payment
for
deliveries
in
China,
by
far
its
largest
market.
Company
founder
and
chief
executive
Greg
Yurek
was
replaced
on
1
June
by
former
president
Dan
McGahn,
and
is
due
to
leave
as
chairman
in
August.
AMSC,
based
in
Massachusetts,
now
expects…
