- JD.com(NASDAQ:JD)shares surged on Tuesday after Atlantic Equities started coverage on the Chinese e-commerce company with an overweight rating and a $100 price target.
- JD.com (JD) gained more than 10% to finish at $76.76, sitting near a one month high. Volume was also heavy, as more than 27 million shares changed hands, more than 2.7 times the average daily volume of just over 10 million.
- Separately, CNBCreportedthat JD.com was opening automated stores in Europe, akin to Amazon's(NASDAQ:AMZN)Go stores.
- Following the move higher was other Chinese tech stocks, as Alibaba(NYSE:BABA), Weibo(NASDAQ:WB)and Baidu(NASDAQ:BIDU)all gained roughly 3% of more as tech stocks rebounded on Tuesday.
- Late last month, JD.com (JD)entered into a $2 billion, five-year unsecured term and revolving loan facility with five lead arrangers, its first green loan facility.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments