Dangdang apology too late the market value evaporated 400 million

January 19th news dangdang.com the first trading day after the "CEO Li Guoqing micro-blog called Morgan Stanley woman" after the shares on Tuesday fell 8.30%. Compared with last Friday’s high share price, the market value of 417 million days has evaporated $two, equivalent to about RMB 2 billion 700 million yuan.

although dangdang.com has taken a public apology and let Li Guoqing write check the way to resolve, chairman Yu Yu said publicly scheduled entertainment investment banking team in a row, Morgan Stanley also promptly denied "Morgan Stanley woman" the identity of employees. But it seems that U.S. investors still do not buy it. Shares fell 8.30% on Tuesday, at $31.05, down $2.81. Dangdang shares opened at $32.01, the lowest transaction price of $30.60.

 

Dangdang recent stock movements

CEO dangdang.com Li Guoqing last weekend in micro-blog at once helped dangdang.com listed firms in the United States, causing two so-called "Morgan Stanley employees" netizen fierce counter attack, taking sides war, causing onlookers.

The cause of the incident is that Li Guoqing

underwriting investment bank to Dangdang pricing is too low, " knowing the next day the market will have a market capitalization of $2 billion, only $16 pricing, valuation of only $1 billion 100 million;. Dangdang listed on the first day rose 87%, to $29.91. He also accused the bank ruthless, just to make money, the company downturn cheap shares, even competitors investment, both sides of the bet.

venture capital pointed out that while investing in a number of similar companies are the usual means of venture capital. Business start-up phase uncertainty, moderate dispersion has no investment with investment motive, and that the investment bank Li Guoqing accused mercenary appear some "childish words".

it is understood that Dangdang in 2009, ten years after the establishment of the announcement to achieve profitability. According to the listing documents submitted, its 09 year net profit of about $16 million 916 thousand, the first three quarters of 2010 net profit of 15 million 980 thousand yuan. According to the valuation of $1 billion 100 million, Dangdang 2010 earnings ratio of about 340 times.

in addition, according to iResearch released prior to the date of the online shopping report shows that compared to 2009, 2010 dangdang.com in B2C industry market share fell by 3.3 percentage points, and the Amazon tied for second, a market share of 9.2%. (end)

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