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June 27, 2022, 10:47 a.m. EDT

JD.com shares gain as Prosus stock sale removes 'big overhang'

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By Emily Bary

U.S.-listed shares of JD.com Inc. /zigman2/quotes/205122565/composite JD -1.19% were rallying about 4% in Monday morning trading after Dutch internet holding company Prosus NV /zigman2/quotes/214038022/delayed NL:PRX -1.28% disclosed that it sold its stake in the Chinese e-commerce company for $3.7 billion. "This was a big overhang that investors were avoiding JD on long side, but now that it has been removed, creates an even better LONG set-up into China economic forum in July where we expect Xi to outline greater stimulus to spark economic growth," wrote Mizuho desk-based analyst Jordan Klein, who is associated with the sales team and not the research unit. JD.com's U.S.-listed shares have gained 11.0% over the past three months as the KraneShares CSI China Internet ETF /zigman2/quotes/205873167/composite KWEB -2.15% has risen 14.6% and as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.19% has declined 14.1%.

/zigman2/quotes/205122565/composite
US : U.S.: Nasdaq
$ 57.29
-0.69 -1.19%
Volume: 4.83M
Aug. 16, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$87.45 billion
Rev. per Employee
$399,673
loading...
/zigman2/quotes/214038022/delayed
NL : Netherlands: Euronext Amsterdam
63.97
-0.83 -1.28%
Volume: 246,409
Aug. 17, 2022 9:58a
P/E Ratio
5.92
Dividend Yield
0.22%
Market Cap
€90.01 billion
Rev. per Employee
€194,386
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/zigman2/quotes/205873167/composite
US : U.S.: NYSE Arca
$ 28.23
-0.62 -2.15%
Volume: 15.80M
Aug. 16, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,305.20
+8.06 +0.19%
Volume: 2.22B
Aug. 16, 2022 5:48p
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