JD.com Jumps 6% After Michael Burry Boosts Stake
A richer dividend alongside new debt financing is drawing more long-term investors.
Overview
- Shares rose about 6% after reports showed Michael Burry, known for “The Big Short,” expanded his JD.com position.
- JD.com issued CNY 10 billion in senior notes, which gives the company more funding options and supports its balance sheet.
- The company raised its annual dividend to $1.00 per share from $0.76, with an April 9 ex-dividend date and payment set for April 29.
- Institutional buying has been building, with U.S. Capital Wealth Advisors raising its stake and total institutional ownership now about 15.98%.
- Analysts keep a Moderate Buy rating with an average target near $36.36, while Chinese stocks get a lift on signs trade tensions with the U.S. are easing.