Why Best Inc. Stock Isn't Living Up to Its Name Today
Shares of Best Inc. (NYSE: BEST) had plunged by 18.5% as of 12:45 p.m. Friday after the supply chain specialist announced plans to sell its Chinese express delivery business to rival J&T Express for $1.1 billion. However, the company, which is backed by e-commerce powerhouse Alibaba (NYSE: BABA) -- its largest shareholder -- will receive only $600 million in cash on the deal.
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Source Fool.com
