#2 - JD.com (NASDAQ:JD)
JD.com (NASDAQ:JD) is the second largest name in Chinese e-commerce. And like Alibaba, JD recently completed its IPO on the Hong Kong Stock Exchange. The offering was for 133 million new ordinary shares. The company raised $3.9 billion for the sale which is expected to dilute the company’s stock by up to 5%.
JD has not publicly commented about the potential delisting in the United States. However, the company has filed an IPO for the U.S. online grocery affiliate, Dada Nexus. This leads many to believe the company is not looking to walk away from its U.S. listing.
Like many companies both in the U.S. and China, JD.com suffered an initial hit on concerns about how much discretionary spending would be lost as a result of the novel coronavirus. But if the results of the company’s 618 Grand Promotion is any indication, there is little for investors to be concerned about.
In May, JD.com forecasted net revenue to grow by 20% to 30% year-over-year in July, August, and September.
About JD.com
JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.
Read More - Current Price
- $30.00
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $35.60 (18.7% Upside)
