JP Morgan Error: Research Reports Publish China Internet Stocks as Uninvestible, $200 Billion Wiped Out
12th May 2022 | Hong Kong
JP Morgan error in its 2022 March research reports publishing Chinese internet stocks as “uninvestible”, has caused around $200 billion to be wiped out from China internet stocks in United States and Asia. The JP Morgan editorial team had removed the word “uninvestible” but the word had remained in some reports. In the 2022 JP Morgan March Report: ”As risk management becomes the most important consideration among global investors in relation to their China investment strategy, as they price in China’s geopolitical risks, we view China internet as uninvestable on a six-12-month view with a binary share price outlook.” The reports were attributed to JP Morgan technology analyst Alex Yao and his team. JP Morgan had also been removed as underwriter for Kingsoft Cloud Holdings IPO in Hong Kong, after the reports had reduced the price target of Kingsoft Cloud by half. (IPO ~ Initial Public Offering)
“ JP Morgan Error: Research Reports Publish China Internet Stocks as Uninvestible, $200 Billion Wiped Out “
Bloomberg: ‘Uninvestable’ Call on China Internet Firms Was Published in Error
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