$100 Million Exit: Why One Fund Walked Away From a Chinese E-Commerce Stock Up 24%

On January 29, Polaris Capital Management disclosed in a U.S. Securities and Exchange Commission filing that it sold out its entire Vipshop Holdings Limited (NYSE:VIPS) position, reducing its stake by 5.07 million shares in an estimated $99.54 million trade based on quarterly average pricing. Vipshop Holdings Limited is a major Chinese e-commerce retailer specializing in branded discount sales for value-focused consumers. What happened According to a filing with the U.S. Securities and Exchange Commissi ...