Breakingviews - JD's hyped-up spinoffs leave its basket light

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JD.com might look slightly unloved after completing its hyped-up spinoffs. The Chinese web retailer's market cap has more than doubled to $117 billion this year. That has been helped by expectations for listings of its health, financial technology and logistics units which...

A JD.com Logistics self-driving truck is displayed at China International Fair for Trade in Services in Beijing, China, May 28, 2019. REUTERS/Jason Lee

Shares of New York-listed JD are up 116% in 2020, smashing the gains of the S&P 500 and most Chinese technology peers including e-commerce rival Alibaba. A secondary Hong Kong listing in June helped, as has the company’s Amazon-like pandemic-resilient business. Investors are also pricing in boss Richard Liu’s more exciting ventures in financial technology and healthcare.

 

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