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heyWhatsay@slrpnk.net to Technology@lemmy.zipEnglish · 1 day ago

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

www.tomshardware.com

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

www.tomshardware.com

heyWhatsay@slrpnk.net to Technology@lemmy.zipEnglish · 1 day ago
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Newegg stock price falls 17.7% after Chinese owner is detained by anti-corruption authorities — company insists it’s operating normally and ‘in accordance with the laws’
www.tomshardware.com
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The detention of Newegg's majority shareholder in China has caused the market to panic.
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  • Lucidlethargy@sh.itjust.works
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    16 hours ago

    Fuck Newegg.

  • jqubed@lemmy.world
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    1 day ago

    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.

    • Montagge@lemmy.zip
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      1 day ago

      It strangely happened just before Newegg kinda went to shit

      • [deleted]@piefed.world
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        1 day ago

        strangely

      • Deceptichum@quokk.au
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        1 day ago

        Whaaa? Big businesses turning things to shit, that’s impossible.

  • corsicanguppy@lemmy.ca
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    23 hours ago

    Once you Newegg, you know.

  • Widdershins@lemmy.world
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    1 day ago

    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.

    • atrielienz@lemmy.world
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      1 day ago

      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.

    • fuckwit_mcbumcrumble@lemmy.dbzer0.com
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      1 day ago

      They’ve been shit since they got bought out.

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

  • mindbleach@sh.itjust.works
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    1 day ago

    Well, that was nice while it lasted.

  • Teal@lemmy.zip
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    1 day ago

    Badegg

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