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

Comments

• jqubed@lemmy.world ⁨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.

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  • Montagge@lemmy.zip ⁨1⁩ ⁨day⁩ ago

    It strangely happened just before Newegg kinda went to shit

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    • snooggums@piefed.world ⁨1⁩ ⁨day⁩ ago

      strangely

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    • Deceptichum@quokk.au ⁨1⁩ ⁨day⁩ ago

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

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• Widdershins@lemmy.world ⁨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.

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  • atrielienz@lemmy.world ⁨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.

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  • fuckwit_mcbumcrumble@lemmy.dbzer0.com ⁨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.

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• Lucidlethargy@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

  Fuck Newegg.

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• Teal@lemmy.zip ⁨1⁩ ⁨day⁩ ago

  Badegg

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• corsicanguppy@lemmy.ca ⁨1⁩ ⁨day⁩ ago

  Once you Newegg, you know.

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• mindbleach@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

  Well, that was nice while it lasted.

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