Spinee wrote a post · Aug 27 21:21

JD Stock Rises After New $5 Billion Share Repurchase Program: Retail Investors Exuberant

$JD.com (JD.US)$ jumped over 2% on Tuesday after the company announced a $5 billion share repurchase program, its second buyback initiative this year. Retail sentiment on Stocktwits flipped into ‘extremely bullish’ territory (80/100) following the news.

Two weeks earlier, JPMorgan upgraded JD.com to ‘Overweight’ with a price target of $36, citing a strategy shift and strong second-quarter earnings, where net revenue rose 1.2% YoY to $40.1 billion, and EPS surged over 97% to RMB8.19 ($1.13).

JD.com also drew attention after Walmart sold its entire stake in the company, raising about $3.6 billion. Messages on Stocktwits have been overwhelmingly positive, with some investors calling JD.com the 'Amazon of China.'

$JD-SW (09618.HK)$ $BABA-W (09988.HK)$ $PDD Holdings (PDD.US)$ $Amazon (AMZN.US)$

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Spinee

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