Why Vipshop Stock Got Crushed Today

Shares of Vipshop Holdings (NYSE: VIPS) got crushed on Wednesday after the company reported results for the second quarter of 2020. The Chinese e-commerce company did demonstrate revenue growth in Q2. But investors probably expected greater acceleration due to the COVID-19 pandemic.

Furthermore, guidance for the remainder of 2020 failed to impress, leading investors to book gains from a Vipshop stock that was already up around 70% year to date.

Continue reading

Source Fool.com