'JD.com Sinks As Liu Arrest Rumors Compound Growing Bearish Calls; At Least Seven Brokerages Cut The Outlook For JD.com's Shares; Firm Lodged A Report Over Speculation Of Businessman's Arrest' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
JD.com's shares slumped to a record low as rumors of an arrest of a businessman with the same surname as the company's chairman circulated. This, coupled with at least seven brokerage firms including Morgan Stanley and Citigroup Inc. downgrading the stock or lowering price targets, has led to a bearish outlook for the company.
October 13, 2023 | 12:03 pm
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NEUTRAL IMPACT
Citigroup's downgrade of JD.com's stock could potentially impact its own stock price, although the effect is likely to be minimal.
While Citigroup's downgrade of JD.com's stock is noteworthy, it's unlikely to have a significant impact on Citigroup's own stock price. Brokerages often adjust their ratings on stocks, and this is part of their regular operations.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Morgan Stanley's downgrade of JD.com's stock could potentially impact its own stock price, although the effect is likely to be minimal.
While Morgan Stanley's downgrade of JD.com's stock is noteworthy, it's unlikely to have a significant impact on Morgan Stanley's own stock price. Brokerages often adjust their ratings on stocks, and this is part of their regular operations.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEGATIVE IMPACT
JD.com's stock price is likely to be negatively impacted in the short term due to the arrest rumors and bearish calls from several brokerage firms.
The arrest rumors, although unconfirmed, have created a negative sentiment around JD.com. This, along with the downgrades and lowered price targets from several brokerage firms, is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100