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JD.com said on Tuesday its board has approved a new $5 billion share repurchase program, effective September, allowing the Chinese e-commerce giant to buy back its stock over the next 36 months.
JD.com Inc.'s U.S.-listed stock JD, -3.84% rose 5% early Tuesday, after the Chinese e-commerce company announced a new share buyback program of up to $5 billion. The program will last through end August 2027.
BEIJING, Aug. 27, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (“JD.com” or the “Company”) (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced that its board of directors (the “Board”) has approved a new share repurchase program (the “New Share Repurchase Program”), effective from September 2024. Pursuant to the New Share Repurchase Program, the Company may repurchase up to US$5.0 billion worth of its shares (including ADSs) over the next 36 months through the end of August 2027.
Following a disappointing second-quarter earnings report, U.S.-listed shares of China-based online retailer PDD Holdings Inc - ADR (NASDAQ:PDD) are eyeing their worst day ever.
Walmart sold its stake in JD.com, but that doesn't mean you must also sell.
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JD.com (JD) is well positioned to outperform the market, as it exhibits above-average growth in financials.
JD.com Inc. JD stock has entered bearish territory, with a Death Cross signaling a potential downturn. The e-commerce giant is down 1.16% year-to-date and 20.51% over the past year, though it saw a slight uptick of 2.6% in the past month.
E-commerce retailer JD.com needs to convince investors of its relevance amid a stagnant Chinese e-commerce market, aggressive price war and now, the departure of Walmart, its biggest shareholder.
JD.com shares declined due to Walmart selling its stake, but a long-term impact is unlikely. JD.com beat earnings estimates, showing strong profit growth and tight cost controls. Strong free cash flow and aggressive buybacks make JD.com stock an attractive investment opportunity.