Youku.com (YOKU), DangDang (DANG) Have Strong IPOs, Take Some Wind Out of Other Chinese Stocks (BIDU, CTRP, More...)
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On a day when two Chinese companies commenced an Initial Public Offering of their common shares, others looked like they were suffering.
Youku.com (Nasdaq: YOKU) and DangDang, Inc. (Nasdaq: DANG) released their shares to much accolade today. China's Youku is akin to YouTube here in the States, and DangDang is like the Amazon.com (Nasdaq: AMZN).
YOKU closed 161% higher to $33.44 today, and DANG soared 87% to $29.91.
The IPOs of the two companies raised a couple hundred million for each, though valuation on these stocks, which have plenty of rapid growth behind them and in front of them, are particularly tricky.
With a relatively small market cap, its hard to imagine that their debut disrupted some of their older brethren. The IPOs seemed to have taken the wind out of other Chinese stocks: Baidu (Nasdaq: BIDU) closed 1.5% lower today, Sohu.com (Nasdaq: SOHU) fell 1.5%, NetEase.com (Nasdaq: NTES) finished 1.7% lower, and Ctrip.com (Nasdaq: CTRP) dropped 5.2%.
However, Chinese stocks have seen some volatility recently as their government is looking to put the kibosh on the rapid growth that their real estate, financial, and general economy have experienced. Some caution is being heeded ahead of CPI, fixed-asset investment, and retail sales figures which are expected out on December 11, 2010.
Youku.com (Nasdaq: YOKU) and DangDang, Inc. (Nasdaq: DANG) released their shares to much accolade today. China's Youku is akin to YouTube here in the States, and DangDang is like the Amazon.com (Nasdaq: AMZN).
YOKU closed 161% higher to $33.44 today, and DANG soared 87% to $29.91.
The IPOs of the two companies raised a couple hundred million for each, though valuation on these stocks, which have plenty of rapid growth behind them and in front of them, are particularly tricky.
With a relatively small market cap, its hard to imagine that their debut disrupted some of their older brethren. The IPOs seemed to have taken the wind out of other Chinese stocks: Baidu (Nasdaq: BIDU) closed 1.5% lower today, Sohu.com (Nasdaq: SOHU) fell 1.5%, NetEase.com (Nasdaq: NTES) finished 1.7% lower, and Ctrip.com (Nasdaq: CTRP) dropped 5.2%.
However, Chinese stocks have seen some volatility recently as their government is looking to put the kibosh on the rapid growth that their real estate, financial, and general economy have experienced. Some caution is being heeded ahead of CPI, fixed-asset investment, and retail sales figures which are expected out on December 11, 2010.
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