FRANKFURT (dpa-AFX) - An analyst's warning about mounting competition from global social media networks sent Zalando investors into a panic on Tuesday. Shares of the online fashion retailer plunged more than nine percent, making it the worst performer on the DAX. The stock fell to its lowest level since late November.
Luke Holbrook of Morgan Stanley highlighted the e-commerce offerings of video platform Tiktok in a recent report. He noted that Tiktok's expansion in the United States is currently proving more successful than its 2021 entry into the United Kingdom. The expert added that, based on this experience, the platform's expansion into Europe could progress more rapidly—specifically naming Germany, France, Italy, Spain, and Ireland as target markets./tih/mis
