Why JD.com Plunged 19.2% in March
Shares of JD.com (NASDAQ: JD) fell 19.2% in March, according to data from S&P Global Market Intelligence.
JD reported earnings during the month and fell immediately thereafter, despite beating analyst estimates. The drop more likely had to do with general macroeconomic concerns, specifically regulatory tensions between U.S. and Chinese authorities, which some believe could cause U.S.-listed Chinese stocks like JD to be delisted.
In the fourth quarter, JD.com posted 23% revenue growth, and adjusted (non-GAAP) earnings per share of $0.35. While revenue growth marked a slight deceleration from the 25% growth in the third quarter, both figures beat expectations. Expectations may have been low, however. China's economy is still reeling from the government's crackdown on technology companies, as well as its bursting of the country's property bubble. Therefore, to see JD forge ahead with more than 20% growth was quite something.
Source Fool.com
