Thanks FinanceStar - Yes, it was on cards and was announced sooner than I expected. We'd take it. Their interest rates are 4.6 and our are ZIRP - China can reduce interest rates as needed to boost the economy (guess what, they don't need much - their SERVICES PMI is expanding rapidly powered by retail and eCommerce whille Mfg PMI is contracting by DESIGN). But in case they need to they have $4T reserves and are selling our Treasuries they hold as needed to boost the economy as needed.
China will be fine - many westerners don't understand TRANSITION from investment/infra/export led econ to consumption (internal) economy - and panic like sky is falling ...
Remember VIPS is a discounter. Some of those unfortunate losers of Shanghai market speculation, may actually turn to discounts on VIPS to save some moolah!
These are certainly troubled times with overall China Macro news hurting all China ADRs ...
For the time being, we are likely driven by the China Macro news
I got back on at the end of Friday around 71s. Glad that I sold the position as mentioned on 8/11 above "Due to some extraneous factors associated with some of my China ADR holdings like VIPS BABA - I had to sell SVXY today much to my dislike"
Check Seeking Alpha ER script for YY ..
Based on that, it seems YY may have acquired or partnered with Jiyuan -
We might know tomorrow in the call?
VIPS has at least 1000% left in it if you can be patient. VIPS has not scratched the surface yet. Give it a few years, this may be doing $100B USD or $640B RMB - it is a matter of time - expanding with leadership (look at YESTER AMZN or BABA to see how VIPS can grow in its niche). VIPS is the undisputed leader in front of a large market.
The cross border could propel 2016 growth by adding another 5% to growth curve ..
Cross Border Commerce could help VIPS beat 2016 numbers widely ... It is a FREE option on top of $35 PT from Jeffrries.
those shorts are selling as if they're about to release another scam report to distort and bring the price down ... unfortunately no buyers ahead of that and sellers are pounding the table ...
This is time the company comes up with some information that puts the shorts in the trash bin ...
I sold some that were acquired at 18 the other day .. Rest of my core position staying until I see $100 print a year or two
Low 17 picks can be sold at 170 in 3 years IMO