Why Vipshop Plunged Today
Shares of Chinese online retailer Vipshop (NYSE: VIPS) were falling hard in Tuesday trading, down 17.2% as of 3:03 p.m. ET.
The company reported earnings this morning, and while second-quarter numbers beat expectations, which were conservative heading in, third-quarter guidance may have surprised investors with regard to how weak it was.
It looks as though the Chinese consumer is still in a funk. But are Vipshop shares cheap enough to buy now? You may be surprised.
Source Fool.com
