JD Stock Slips Into Death Cross After Walmart Sells Stake
WMTWalmart(WMT) Benzinga·2024-08-23 23:37

JD.com Inc. JD stock has entered bearish territory, with a Death Cross signaling a potential downturn. The e-commerce giant is down 1.16% year-to-date and 20.51% over the past year, though it saw a slight uptick of 2.6% in the past month.The recent sell-off by Walmart Inc. WMT only adds to the uncertainty, as the retail behemoth announced plans to offload its stake in JD, aiming to raise up to $3.74 billion. This strategic move comes as Walmart shifts focus to its own operations in China, leaving JD to grap ...