Why Baozun Is Crashing Today
Baozun (NASDAQ: BZUN) stockholders are seeing red today, to the tune of 16.2% as of 2 p.m. ET Thursday. Shares of China's e-commerce outfit plunged in response to its decline in revenue for the three-month stretch ending in December.
While most companies are still climbing their way out of pandemic-driven lulls, Baozun is running into a headwind. The e-commerce solutions provider generated $497.9 million in sales for its final quarter of fiscal 2021, down 5.2% on a year-over-year basis. CEO Vincent Qiu explained during the quarterly earnings call that "a weak consumption sentiment and constrictive government policies persist for China's e-commerce" in the wake of the coronavirus contagion.
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Source Fool.com
