Why JD.com Stock Is Falling Today

JD.com (NASDAQ: JD) stock is losing ground in Monday's daily trading session. The Chinese e-commerce company's share price was down 2.7% as of 3:30 p.m. ET, according to data from S&P Global Market Intelligence. Meanwhile, the Hang Seng Index was down roughly 1%.

While there doesn't appear to be any business-specific news pushing JD's share price lower today, the company's valuation is being impacted by the macroeconomic outlook in China. New data for November suggests that the country's economic recovery has continued to proceed at an underwhelming pace, and some news in the automotive sector is also dampening investor enthusiasm.

JD.com has little in the way of direct exposure to the auto market, but big news in the space can still have an impact on broader market sentiment that translates into significant moves for the e-commerce specialist's share price. Today, revealed that it was looking to sell 25 million American depositary shares that it currently holds in XPeng -- an electric vehicle company. Investors may be looking at the proposed stock sale as a sign that China's auto market and broader economy will continue to struggle.

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Source Fool.com