Why JD.com Slumped 39.2% in the First Half of 2023
Shares of Chinese e-commerce company JD.com (NASDAQ: JD) plunged 39.2% in the first half of 2023, according to data from S&P Global Market Intelligence.
Chinese stocks had a run-up into the end of 2022 after the Communist Party's early December about-face on its harsh zero-COVID lockdown policies.
However, when JD reported results through the first half of 2023, its reported numbers and outlook were quite muted, which was generally in-line with many other Chinese tech stocks. In addition, JD seemed to feel some competitive pressure from aggressive price wars among its domestic e-commerce rivals. Thus, its stock tumbled through the first half of the year.
Source Fool.com
