© Reuters.
Shares of Chinese e-commerce giant JD (NASDAQ:).com have fallen to their lowest level since June 2020, due to a combination of factors including economic uncertainty, reduced consumer spending, and the fallout from China’s property sector debt crisis. The company’s American Depositary Receipts (ADRs) are projected to open at nearly $26.50 per share on Friday, with a market capitalization above $40 billion, anticipated sales of $14.6 billion, and net income close to $3 billion.
Analysts from Citi Research, Daiwa, and Jefferies have revised their financial projections for JD.com ahead of its mid-November financial disclosure following Singles’ Day. Citi Research has cut its revenue forecasts for JD.com in Q3 and Q4 by 3.4% and 4.3% respectively. This comes after JD.com missed its Q4 revenue targets and faced the challenging task of restoring consumer trust in the…
