Shein lost about $5B in market value since its IPO, dropping to ~$21B, as it finished one of the worst opening weeks after a major Hong Kong listing (Bloomberg)

Shein’s market capitalization fell by roughly $5 billion, shrinking to about $21 billion after a weak opening week following its major Hong Kong listing. The decline marks one of the worst post-IPO performances for the fast-fashion retailer, reflecting investor disappointment with the company’s recent financial results.