Shares of Vipshop Holdings, China's sixth-largest e-commerce company, fell sharply on Wednesday when the company announced results for the second quarter of 2020. The Chinese e-commerce company showed revenue growth in the second quarter. However, investors probably expected a larger acceleration due to the COVID-19 pandemic.

However, Vipshop's revenue for the second quarter rose only 6% year-over-year to $3.4 billion. Although it was not as fast as many other e-commerce companies, it significantly exceeded the company's prospects. The company's management expected 5% revenue growth. The decline may also be because the company's CFO will resign in November for personal reasons.

Source: Tradingview.com