Why JD.com Stock Is Sliding Monday

JD.com Inc JD shares are trading lower Monday after it was announced the company will be removed from the Nasdaq-100 Index.

What Happened: After the close on Friday, the Nasdaq announced the results of the annual reconstitution of the Nasdaq-100 Index, which will become effective prior to market open on Monday, December 18, 2023. 

JD.com was one of the companies selected for removal from the index alongside Align Technology, eBay, Enphase Energy, Lucid and Zoom. CDW Corporation, Coca-Cola Europacific Partners, DoorDash, MongoDB, Roper Technologies and Splunk were all added to the Index.

The Nasdaq-100 Index is reconstituted once a year in December. 

Of all the analysts covering JD.com stock, 13 have positive ratings, five have neutral ratings and one has a negative rating. The average 12-month price target is $58.24, according to analyst data from Benzinga.

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JD Price Action: JD.com shares were down 3.97% at $25.40 at the time of publication, according to Benzinga Pro.

Photo: Pexels from Pixabay.