Market Insight | JD.com-SW rises by over 3%, Morgan Stanley believes Walmart's reduction is only a short-term impact. The company repurchased nearly USD 400 million worth of shares in a single day
JD.com-SW rose by over 3%, as of the time of publication, it increased by 3.03% to HKD 105.6, with a turnover of HKD 15.82 billion. On the news front, JD.com announced that as of August 20th, Walmart no longer holds shares in the company, citing reasons unrelated to changes in stock prices or trading volume. JP Morgan stated that Walmart's sale of JD.com shares is just a "short-term negative impact" event and will not affect JD.com's fundamentals, recommending investors to acquire JD.com shares after the transaction is completed. It is reported that JD.com spent approximately USD 390 million on August 21, 2024 to repurchase its shares, fully utilizing the repurchase limit of the USD 3 billion share repurchase plan approved in March 2024. Zhongjin Securities pointed out in mid-August that JD.com's second-quarter profits and repurchases exceeded expectations. As of June 30, 2024, the company has repurchased a total of USD 3.3 billion worth of shares this year, accounting for approximately 7.1% of its outstanding common shares issued as of December 31, 2023, with a repurchase speed exceeding expectations
According to the information from the Wise Finance APP, JD.com-SW (09618) is now up more than 3%, as of the time of publication, up 3.03% to HKD 105.6, with a turnover of HKD 1.582 billion.
On the news front, JD.com announced that as of August 20th, Walmart no longer holds any shares in the company, citing reasons unrelated to changes in stock prices or trading volume. JP Morgan stated that Walmart's sale of JD.com shares is just a "short-term negative impact" event and will not affect JD.com's fundamentals, recommending investors to acquire JD.com shares after the transaction is completed.
It is reported that JD.com spent approximately $390 million on August 21, 2024 to repurchase its shares, fully utilizing the repurchase limit of the $3 billion share repurchase plan approved in March 2024. CICC pointed out in mid-August that JD.com's second-quarter profits and repurchases exceeded expectations. As of June 30, 2024, the company has repurchased a total of $3.3 billion worth of shares this year, representing approximately 7.1% of its outstanding common shares issued as of December 31, 2023, with a repurchase speed exceeding expectations