6 Chinese Stocks That Tanked Last Week
Just when it seemed as if Chinese stocks were storming back into favor, down they went again.
Several of the growth stocks in the world's most populous nation took a step back last week, in many cases erasing the heady gains they made during the prior week.
It wasn't all bad. Youku climbed 10% last week, fueled by an upbeat analyst note. Analysts at Macquarie Group feel that the country's largest video website operator may surprise investors by turning profitable as soon as the second quarter of next year. Renren rose 5% last week. China's biggest social networking website struck a partnership with Cooliris to launch a version of the popular photo-sharing app customized for Chinese users that integrates photos uploaded by Renren users.
Most solar energy stocks also had a healthy week.
However, there were also plenty of retreaters. Let's take a closer look at six stocks that fell last week.
Nam Tai Electronics
Yingli Green Energy
E-House shares may have soared 40% a week earlier -- as the real estate agency's board authorized the sale of stock to company executives and used those funds to repurchase shares -- but it gave a good chunk of those gains back this past week.
There was no news leading Bona Films to fade to red. Bona is a Chinese film distributor with an integrated business model that covers distribution, production, exhibition, and talent representation.
Dangdang slipped on reports that rival Yihaodian.com -- Wal-Mart's China subsidiary -- is starting to gain ground in China's e-commerce market.
Nam Tai is a provider of contract manufacturing and design services for the electronics industry. The stock's entire loss came on Monday with its highest daily volume in more than a month. The shares tumbled despite Nam Tai declaring a full slate of quarterly dividends through 2013.
Yingli Green Energy joined its peers by rallying on Wednesday, but it bucked the trend the rest of the week by slipping for the week on the whole.
KongZhong hasn't had any material news to put out since last month's quarterly results, but those weren't pretty. The provider of mobile entertainment in China fell short of its earlier guidance for revenue and gross profit.
There was a lot of red ink there -- but nothing that these volatile stocks can't make up as quickly as they lost.
Betting on China
There's plenty of growth still to be had if you buy the right Chinese growth stocks.
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The article 6 Chinese Stocks That Tanked Last Week originally appeared on Fool.com.Longtime Fool contributor Rick Aristotle Munarriz has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.