Shares of JD.com (NASDAQ: JD) climbed 17.6% in June, according to data from S&P Global Market Intelligence , both as the broader market rebounded and the Chinese e-commerce giant announced record sales for its “6.18” anniversary sale.
It helped that JD stock had plunged only about 15% in May along with the broader markets and escalating U.S.-China trade tensions. But then the broader markets rebounded last month — including a 7% gain for the S&P 500 — as those tensions began to ease.
IMAGE SOURCE: JD.COM.
But JD helped accelerate its momentum on June 19 when it revealed its annual June 18 Anniversary Sale set a fresh company record with a staggering total sales transaction volume of $29.2 billion — up around 18% from its then-record $24.7 billion during the same event in 2018. JD credited 6.18’s success to a combination of new product offerings and Chinese consumers’ “continued interest in and pursuit of higher quality.”
JD also touted its use of new “consumer-to-manufacturer” (or C2M) marketing methods, through which it uses big data and consumer insights to help brands adjust manufacturing and marketing “with the goal of providing consumers with products they want before they even know they want them.”
Still, barring a preliminary release in the next several weeks, investors will need to wait until mid-August to see whether JD.com will be able to live up to its most recent guidance for 21% year-over-year revenue growth in the second quarter. With shares already up around 46% in 2019 as of this writing but still down more than 20% from this time last year, that upcoming report could be the source of JD’s next big move up or down.
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