VIPS - Will Vipshop Stock Bounce Back in 2021?
Shares of Vipshop Holdings (NYSE: VIPS) have plummeted 39% since peaking three weeks ago. It's a big correction in a short window of time, but one analyst thinks that the Chinese online discounter of brand-name apparel and accessories is bottoming out here.
Andre Chang at JPMorgan upgraded Vipshop on Thursday, lifting his rating on the shares from neutral to overweight. He feels that Vipshop's nearly 40% plunge in recent weeks is tied to the collapse of Archegos Capital Management that resulted in the fire-sale liquidation of its stock portfolio that included Vipshop. Chang feels with the stock starting to inch higher again and trading volume returning to pre-sell-off levels that the playing field is finally level again.
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Will Vipshop Stock Bounce Back in 2021?