正规股票配资公司 阿里巴巴的竞争对手京东宣布在最近股票下跌期间进行50亿美元的股票回购

China's leading e-commerce company and a major competitor of Alibaba,JD.com, Inc. (NASDAQ:JD), has unveiled plans for a substantial share repurchase program. The firm intends to buy back up to $5 billion of its shares over the next three years.

What Happened: According to a press release on Tuesday, JD.com's board of directors has approved a new share repurchase program. The program, set to commence in September, permits the company to repurchase up to $5 billion of its shares, including ADSs, over a 36-month period, concluding in August 2027.

JD.com indicated that the proposed repurchases may occur intermittently on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, subject to market conditions and in compliance with applicable rules and regulations. The board will periodically review the share repurchase program and may authorize adjustment of its terms and size.

Why It Matters: JD.com's share buyback announcement comes in the wake of a series of events that have affected the company's stock performance. In August, Walmart Inc. (NYSE:WMT), the largest shareholder in JD.com, announced its intention to sell its stake in the company, causing JD.com's shares to drop significantly. The company's stock was also among the top 8 large-cap losers for the week of Aug. 18 to Aug. 24, 2024.

Furthermore, JD.com's shares traded lower in sympathy with PDD Holdings on Monday after the latter reported disappointing second-quarter sales results.

Price Action: On Tuesday, during pre-market trading, JD.com was trading 3.91% higher at $26.81, according to Benzinga Pro.

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Photo via Wikimedia Commons

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari正规股票配资公司

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