Mogu Goes Public With Lukewarm Results
5 days ago - By WWD
Mogu's is not doing well on Wall Street.
The fashion and beauty e-commerce platform went public on Thursday, with less-than-stellar results, in spite of a booming fashion and luxury market in China.
Mogu's $14-a-share asking price immediately fell to around $12, slowly winding its way back up during the rest of Thursday's trading session. Still, the Chinese e-commerce company's stock was down more than 5 percent Friday morning to just over $13 a share.
The company's plan to go public, nearly eight years after it was founded, points to increasing competition among fashion and apparel...
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