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VIPS - Why Vipshop Stock Crashed and Burned on Thursday
Vipshop Holdings Limited American Depositary Shares each representing two
Shares of Vipshop Holdings (NYSE: VIPS) slumped on Thursday and never regained their footing. The stock cratered as much as 19.8% in early trading. As of 12:21 p.m. ET, the stock was still down 15.9%
A disappointing third-quarter financial report was the catalyst that sent China's leading online discount retailer tumbling, but things went from bad to worse when the company provided guidance that was far below expectations.