What's Going On With JD.Com Stock?

JD.Com Inc JD shares are trading lower by 5.3% to $27.07 Thursday morning. The stock is falling in sympathy with peer e-commerce company Alibaba Group Holding Ltd - ADR BABA after the company reported second-quarter financial results.

What Happened With Alibaba?

Alibaba's second-quarter FY23 revenue hit $30.81 billion, beating expectations of $30.77 billion, with adjusted earnings per ADS at $2.14, surpassing estimates of $2.11.

Taobao and Tmall Group revenue grew 4% to $13.39 billion, Alibaba International Digital Commerce Group revenue surged 53% to $3.36 billion, and Local Services Group revenue increased by 16% to $2.13 billion.

Jack Ma's family trust plans to sell 10 million Alibaba shares for around $871 million on November 21. The sale will be handled by JSP Investment and JC Properties, both part of the family trust, as per Reuters...Read More

Why This Matters To JD.Com Investors

News about a major shareholder (in this case, Jack Ma's family trust) planning to sell a significant amount of shares in Alibaba could signal a lack of confidence in the company's future prospects.

This could raise concerns among investors about the reasons behind the sell-off and potentially lead them to question the overall health of the e-commerce sector, affecting not only Alibaba's stock but also its competitors like JD.com.

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According to data from Benzinga Pro, JD.Com has a 52-week high of $67.10 and a 52-week low of $24.01.