Alibaba Gets Price Cut; JD.com Jumps On Stock Buyback

By | September 8, 2015

Scalper1 News

China tech stocks JD.com and Alibaba went in opposite directions today. With its stock down 37% from its all-time high of 38 almost three months ago, China online retailer JD.com (JD) announced a $1 billion share repurchase program. JD.com said that the stock buyback pertains to its American depositary receipts that the company “may repurchase” over the next two years, using its available cash balance. JD closed up 5%, at 23.95, in the stock Scalper1 News

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