Stock Alert: JD.com Touches New High

(RTTNews) - One of the leading Chinese online retailers, JD.com, Inc. (JD) is one among very few companies whose shares are rising while the market is sinking during the Covid-19 pandemic. Thursday, the stock touched its new high of $47.84, before closing at $47.50, up 6.5%. It has gained nearly 35% in one month.

As the company is primarily engaged in the direct sales of consumer goods, home appliances and general merchandise, its functioning was not disturbed significantly during the lock down period. And in March when JD.com reported its fourth-quarter results, revenue had increased 26.6% year-over-year to $24.5 billion.

Last month, JD had announced a share buy-back program of up to $2 billion of its shares over a period of 24 months.