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JD.com's concerns outweigh sales beat despite good earning report
After China's Double 11 shopping festival this year, Alibaba and Pinduoduo, the two Chinese e-commerce giants have given out unexpected earnings data. Under the influence of the two earnings data, the market is increasingly looking forward to JD.com's third quarter earnings report. On November 16, 2020, JD.com released its third quarter earnings report, before the U.S. market opens.
But after the release of the earnings report, JD.com's share price in the U.S. stock market has been repeatedly shaken, closing down 7.41% on that day. In the Hong Kong stock market, the same downward momentum, as of the close of November 17, JD.com's shares fell 7.12% to HK$341.8, with a market capitalization of about 1.06 trillion Hong Kong dollars.
Since its listing in Hong Kong in April this year, JD.com's share price has generally maintained its upward trend. Although the results in the third quarter were relatively good, the market seems to not satisfy about the results. So, let's look at the report.