shopify and baozun.orning, jon steinberg, the ceo of the "daily mail" north america and a cnbc contributor. interesting morning, not only we talked about baozun a moment ago, baba is down to 93 a share now. >> we see it time and again, the companies get bid up in the private market, they go public, there's a huge pop and then they come crashing down in the first earnings. this etsy thing, we all saw it on ipo day. we all said the price was crazy and it was going to happen. it was so obvious, i can't even believe the market is correcting it now and it didn't happen in the first place. >> priced at 16, it's 17 now. >> was it priced efficiently? >> you always happen, you always talk about the price thing. if you look at the first day ipo pop -- >> closed at 31. >> let's look at box. where are these relative to the ipo, no, where are these things relative to the first day, they're all way down. >> baozun's case is interesting. if you believe that china really is going to push forward and become a global citi

not as great a story at the nass damage because baozun is over there. they held big brands like nike helped them get on the alibaba platform. showed them how to set up a presence in china. 11 million shares at $12 to $14 was the price talk. if priced below that at $10, one issue out there is very high customer concentration. renaissance tells me phillips and microsoft were 52% of their 2014 revenue. it's been a great year for chinese internet stocks after a very slow start. a lot of these big names have taken off in the last six, seven, eight weeks. this is this quarter. 58.com up 47%. youku, that's up big. renren is up big. all because these st. paul names are doing well. the shenzhen up 90% gain for the year. this is the nasdaq of china. over at best buy, the numbers looked very good. they are up nicely. not as much-. i think the big problem is where the sales are breaking down. they had great numbers in appliances. great number in consumer electronics led by tvs and phones. entertainment, which is gaming down dramatically. there were declines in tabl