If you own shares of Baozun, you can blame Credit Suisse for that -- and also the Chinese government. In a note out this morning, Credit Suisse "double downgraded" Baozun, tumbling the stock's rating all the way from "outperform" to "underperform" (i.e. Why did Credit Suisse decide to downgrade Baozun -- and so dramatically?
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BEIJING, China, July 22, 2021 (GLOBE NEWSWIRE) -- Baozun Inc. (NASDAQ: BZUN and HKEX: 9991) (“Baozun” or the “Company”), the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, announced today that Baozun and its wholly-owned subsidiary, Baotong Inc. (“Baotong”) have signed a letter of intent (“LOI”) with Cainiao for its equity investment (“Investment”) in Baotong, Baozun’s warehousing and fulfillment solution subsidiary. Baozun, Baotong and C