US$3 billion blunder: Walmart, Prosus, Tencent miss the China rally with premature exits
Beijing’s big-bang stimulus may have restored more than US$3 trillion of value to Chinese stocks, but not everyone has been lucky enough to reap that windfall, especially those who timed their exit before the rally took hold. Retail giant Walmart sold 144.5 million of JD.com’s US-listed shares at US$24.95 each on August 20, missing out…