Vipshop shares hit a record high Tuesday

Vipshop's shares hit a new all-time high of 211.46 U.S. dollars per share on Tuesday, surpassing Baidu's 198.43 U.S. dollars and its total market capitalization of 12 billion U.S. dollars surpassed Qiqi 360's 11.7 billion U.S. dollars and thus jumped to China's fourth-largest Internet company.

Vipshop's shares hit a new all-time high of 211.46 U.S. dollars per share on Tuesday, surpassing Baidu's 198.43 U.S. dollars and its total market capitalization of 12 billion U.S. dollars surpassed Qiqi 360's 11.7 billion U.S. dollars and thus jumped to China's fourth-largest Internet company. For the Vipshop's share price soaring, the market has questioned its trend from the low volume of the market, which follows the logic of the domestic A-share market. In the United States, capital markets are dominated by institutional investment and the long-term value investment is not active Is normal. In fact, the same day Tuesday, Jingdong volume of 2.3 million shares, Qihoo 360 of 318 million shares, Baidu's volume of only 341 million shares, the only product will be 132 million shares.

The valuation of Internet companies is different from that of traditional industries. There are several rules in the valuation model of institutional investors: Generally speaking, the valuation of B2B mode is lower than that of B2C because the direct face of C-terminal users and more imagination space Big; valuation of game companies is lower than that of advertising companies; and advertising is lower than that of electricity suppliers, because the conversion rate of game companies is more uncertain. This division stems from the investment agencies for the division of business models, but also the basic logic of value-based investors in the United States.