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MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

Why JD.com Stock Was Climbing Today

Jeremy Bowman, The Motley Fool
·2 min read
Why JD.com Stock Was Climbing Today

Top-line growth was sluggish as revenue increased just 1.4% to $35.4 billion, a reflection of intensifying competition and difficulty rebounding from years of zero-COVID restrictions. Separately, investors also seemed to like that JD.com named a new CEO, as the stock had struggled under Lei Xu, who ran the company for the past year. Its new CEO will be Sandy Ran Xu, who had previously served as CFO, and the company's statement did not shed much light on the reason for the transition, saying Lei Xu was stepping down for personal reasons.

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