NEW YORK (TheStreet) -- Shares of Chinese online discount retailer Vipshop Holdings (VIPS) rose more than 4% to a 52-week high of $24.63 in afternoon trading Monday ahead of Singles' Day on Tuesday, the largest shopping event in China.
JD.com reported revenue of $1.6 billion last year during its Singles' Day promotion period that started November 1, 2013. Alibaba processed 36.2 billion yuan, or $5.8 billion, in gross merchandise volume last year. The company processed 254 million orders within 24 hours and handed 156 million packages.
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Vipshop was up 3.96% to $24.26 at 2:07 p.m.
Separately, TheStreet Ratings team rates VIPSHOP HOLDINGS LTD -ADR as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate VIPSHOP HOLDINGS LTD -ADR (VIPS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including premium valuation, generally higher debt management risk and poor profit margins."