Why JD.com Sank Today
Shares of Chinese e-commerce leader JD.com (NASDAQ: JD) sank today, falling 8.3% as of 1:28 p.m. ET.
JD.com has been battered this year amid a sluggish recovery in the Chinese economy after COVID-19 lockdowns were lifted last year, in addition to heightened geopolitical challenges.
Today, the company received yet another negative news item, as a Wall Street bank lowered its price target on shares, along with the company's revenue-growth outlook. However, that same analyst also has a price target well above where shares trade today even after the downgrade.
Source Fool.com
