19 Hrs
Source:
الاقتصادية
Shein Shares Fall Over 3 Percent
Shanghai company's plan to list on the Hong Kong Stock Exchange raised approximately $1.7 billion at a valuation of $26.5 billion, down from its peak of nearly $100 billion in 2022. This reflects a decline in growth expectations for the company. After the listing, the company's stock dropped over 3% in early trading and continued to suffer sharp declines, falling as much as 10% on Tuesday session amid concerns over sluggish growth, rising costs, regulatory challenges, and increasing competition. Despite stabilization measures to support the stock price, the market remains cautious about the company's sustainability and profitability, especially in light of rising tariffs and reduced opportunities due to a more difficult environment for low-cost e-commerce companies.
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