Baozun Stock Sank Today: Is It Time to Buy?
Baozun (NASDAQ: BZUN) stock lost ground Thursday after posting a big gain Wednesday. The China-based e-commerce services company's share price ended the trading session down roughly 9.7%.
There wasn't any company-specific news driving the pullback, but Baozun sold off in conjunction with broader market momentum impacting Chinese tech stocks. The Chinese stock market saw brutal sell-offs on Monday as investors weighed the possibility of new sanctions on that country due to its supportive relationship with Russia, the potential delisting of Chinese companies from U.S. exchanges, and a surge in coronavirus cases in China that could create additional supply chain disruptions. But Chinese stocks experienced an explosive recovery Tuesday and Wednesday as the government in Beijing pledged to be more supportive of its domestic companies and markets.
That surge, in turn, seems to have led to market conditions on Thursday in which investors chose to take profits.
Source Fool.com
