Vipshop Surged 6% As Filing Shows Tiger Global Increased Stake

American depository shares of Vipshop Holdings (VIPS) are up 6.4% Thursday after a filing shows Tiger Global grew its stake in the China-based discount online retailer.

Tiger’s stake now accounts for 4.54% of the fund’s Q114 portfolio.The position was started in Q413 and at that time, accounted for 1.52% of the portfolio.

VIPS traded as high as $179.79, nearing a test of its $182 52-week high.

Vipshop Holdings Ltd through its subsidiaries operate an online platform that offers products to consumers in the People’s Republic of China through flash sales on its vipshop.com and vip.com website.

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Jennifer McKinney, CFA, is an equity analyst for The Downtown Leader. If you have a great story idea for Jennifer McKinney, you can write at [Jennifer.McKinney@downtownleader.com ].

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