NetEase Is The 100-Bagger You Never Owned
Not all Chinese stocks are overvalued or out of favor. NetEase (NASDAQ: NTES) hit an all-time high on Tuesday, and that was before posting blowout financial results after the market close. NetEase was fetching just 22 times its new trailing adjusted earnings as of Tuesday's close.
The stock has been one of the market's top performers since going public at $15.50 in the summer of 2000. Adjusted for a 4-for-1 stock split back in 2006, the stock has been better than a 100-bagger -- a 102-bagger, to be exact -- over the past 20 years, and that's before tacking on the steady flow of dividends along the way.
Judging by this week's financial update, it seems as though NetEase isn't done impressing the market with its better-than-expected first quarter.
Source Fool.com
