Why JD.com Shares Are Falling

Shares of several Chinese companies, including JD.Com Inc JD, are trading lower Friday in sympathy with DiDi Global Inc DIDI after the company announced its plans to delist from the New York Stock Exchange.

DiDi said it will ensure that American depositary shares (ADSs) will be convertible into freely tradable shares of the company on another internationally recognized stock exchange at the election of ADS holders.

DiDi announced that it will organize a shareholder meeting to vote on the matter, following necessary procedures.

JD.com is China's second-largest e-commerce company after Alibaba Group Holding Ltd BABA in terms of transaction volume, offering a wide selection of authentic products at competitive prices, with speedy and reliable delivery.

See Also: Alibaba, JD, Baidu And Nio Rival Xpeng Dip In Mixed Hong Kong Market; Li Auto Strikes Gains

JD Price Action: JD.com has traded as high as $274.29 over a 52-week period. It's making new 52-week lows during Friday's session.

The stock was down 8.45% at $111.59 at publication time.