Dangdang (DANG) Falls Back as e-Commerce Concerns Rise
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e-Commerce China Dangdang (NYSE: DANG) shares are retreating Tuesday following an impressive run on Monday. Following a 10 percent close higher to $10.70, shares are off 7 percent in mid-day trading.
Today's rumor is that an e-commerce joint venture between Japan's Rakuten and China's Baidu (Nasdaq: BIDU) may be in trouble, with a cut to half of Rakuten's staff possible. The move might signal some weakness in the e-Commerce market in Asia, which would certainly affect Dangdang.
For the Chinese language news site, click here.
Today's rumor is that an e-commerce joint venture between Japan's Rakuten and China's Baidu (Nasdaq: BIDU) may be in trouble, with a cut to half of Rakuten's staff possible. The move might signal some weakness in the e-Commerce market in Asia, which would certainly affect Dangdang.
For the Chinese language news site, click here.
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