Newegg stock falls 17.7% after owner is detained by anti-corruption authorities in China | Spyke

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Newegg stock falls 17.7% after owner is detained by anti-corruption authorities in China

Newegg stock falls 17.7% after owner is detained by anti-corruption authorities in China

https://www.tomshardware.com/tech-industry/newegg-stock-price-falls-17-7-percent-after-chinese-owner-is-detained-by-anti-corruption-authorities-company-insists-its-operating-normally-and-in-accordance-with-the-lawsOpen link View original on slrpnk.net

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I didn’t know it was owned by a Chinese company, nor publicly traded

Newegg was established in California by Fred Chang in 2001, but Lianluo acquired a majority stake in the privately held company in 2016. By 2021, it had merged with Beijing-based Lianluo Smart Limited, with the company being renamed Newegg Commerce, Inc., finally taking it public. At the moment, Lianluo currently owns 54.5% of Newegg.

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It strangely happened just before Newegg kinda went to shit

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[deleted] reply

strangely

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lumpenproletariat reply

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Did newegg fall off maybe 10 years ago? I remember remembering them back in the day but haven't thought of that site in a long time.

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atrielienz reply

I buy server drives from them still. Well I did. Before everything kind of went a little crazy. But yeah they are a shadow of what they once were.

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fuckwit_mcbumcrumble reply

lemmy.dbzer0.com

They've been shit since they got bought out.

I've only bought from them twice since then, and both times have been awful.

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Badegg

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Once you Newegg, you know.

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sh.itjust.works

Fuck Newegg.

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Newegg stock falls 17.7% after owner is detained by anti-corruption authorities in China | Spyke