Cathie Wood Buys the China Dip With This E-Commerce Stock
Shares of Chinese technology stocks surged on Tuesday, Aug. 24, after a slew of positive earnings surprises from several key names, including e-commerce giant JD.com (NASDAQ: JD). In fact, JD's results were so good that ARK Invest CEO Cathie Wood, after selling her Chinese stocks earlier this year, bought some shares following the company's second-quarter earnings report.
Beyond the mere good results, management also offered commentary on China's regulatory campaign against big tech excesses. While new regulations may temporarily affect the revenue and earnings of many internet and e-commerce companies, JD.com doesn't see these new measures affecting its business very much. In fact, JD could actually benefit from them.
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Source Fool.com
