JD.Com Inc(ADR) (NASDAQ: JD)
JD.Com is having an overwhelmingly strong day in the market today. Early on, the stock was in the green, but not by much. Nonetheless, as the day progressed, the stock started spiking higher and higher. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to JD ahead.
What We’re Seeing From JD
As mentioned above, JD.Com is having a relatively strong day in the market today. After starting the day off cleanly in the green, the stock has been spiking higher and higher throughout the trading session. Currently (11:06), JD is trading at $26.86 per share after a gain of $1.03 per share (3.99%) thus far today.
Why The Stock Is Climbing
As usual, as soon as we saw that JD was climbing, the CNA Finance team went to work to see exactly what was causing the movement here. In our search, we were unable to find any fundamental data that would lead to such a climb. However, we were able to find something.
Early this morning, there was a bit of chatter surrounding a competitor to JD.Com, known as Tencent. The social rumors revolving around Tencent seem to be causing movement in JD.Com. While we can’t say that this is the only reason for the move, it is the only story we were able to dig up that was relevant to movement today.
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on JD. Ultimately, something is happening with this stock, and while investors are enjoying the gains, many are scratching their heads trying to figure out why. Nonetheless, we’ll keep our eyes peeled, and if we dig up anything else, we’ll be sure to bring the story to you!
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