Why Vipshop Holdings Shares Skyrocketed Today
Shares of Vipshop Holdings (NYSE: VIPS) have skyrocketed today, up by 42% as of 12 p.m. EST, after scoring a huge vote of confidence from Chinese tech giants Tencent (NASDAQOTH: TCEHY) and JD.com (NASDAQ: JD). The two companies announced they will invest $863 million combined in the online discount retailer.
Both larger companies will be purchasing Class A ordinary shares at a price of $65.40 per share, which translates into $13.08 per American depositary share of Vipshop. Five American depositary shares, which are what trade in the U.S., represent one Class A ordinary share. That purchase price represents a 55% premium over Friday's close.
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Source: Fool.com
Vipshop Holdings Ltd. ADR Stock
€12.60
0.800%
Vipshop Holdings Ltd. ADR is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 18 € there is a positive potential of 42.86% for Vipshop Holdings Ltd. ADR compared to the current price of 12.6 €.
