Why JD.com Stock Rose in March
Shares of JD.com, Inc. (NASDAQ: JD), one of the largest online retailers in China, rose by 5.17% in March, according to data provided by S&P Global Market Intelligence, following an impressive fourth quarter by the company and on news that JD's business was doing relatively well despite the coronavirus pandemic.
JD.com was one bright spot among many Chinese companies last month as its stock price rose at the beginning of the month thanks to the company's better-than-expected fourth-quarter results. JD's sales increased 26% year over year to $24.5 billion, outpacing analysts' consensus revenue estimate of $23.9 billion. The company's stock jumped 12% on that news, though it gave up some of those gains later in the month.
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Source Fool.com
