Alibaba-Backed Baozun Jumps 60% in Month After Sales Beat: ChartBy
Baozun Inc., a Chinese e-commerce platform provider backed by Alibaba Group Holding Ltd., has surged 60 percent since early August when it reported quarterly revenue that beat expectations and increased its forecast for gross merchandise volume growth. The American depositary receipts have almost tripled to $13.43 from a record low in October and are trading above their May 2015 initial public offering price of $10 for the first time in more than a year. Alibaba’s investment subsidiary owned 26.5 million Class A common shares as of March 31, according to a Baozun regulatory filing.
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