Shein Stock Waited Years to IPO Only to Flop. Blame Trump.

Shein stock had a trading debut to forget on Tuesday, summing up the waning fortunes of a company that was at one point expected to upend the entire fast-fashion market. There have been plenty of stellar IPOs in China this year—the most notable being memory-chip maker CXMT which surged 466% on its trading debut in July to become the country’s most valuable company. Shein never looked likely to join the club.