The only thing I can see is that NTES is mentioned in the NQ press, but just in respect to NQ (which is under heavy questioning as to the validity of its assets) stating they had contracts with NTES which NTES denies, further supporting the short position on NQ. However, I do not see why NTES would be dragged down other than that they too are a Chinese company.
Weak argument to drag down NTES, but it could just be getting sucked down with the attack on NQ's credibility.
Anyone who has additional insights please share them!
This can be a great entry into NTES but more details and due diligence is necessary.
Do you really have to ask? Of course it's getting sucked down on NQ report, as are all other Chinese internet stocks. China has a reputation for cooking the books. There will be investigations, reports, and perhaps lawsuits. Then, hopefully, confidence will be restored, and stock price will go back up. not a mystery.