Singles Day stock tip: Forget Alibaba and look at JD
CNN
Chinese consumers were hunting for bargains on Singles Day, the online shopping extravaganza that takes place every November 11 which was originally launched by e-commerce giant Alibaba.
But investors have been betting that Alibaba's top rival JD.com might be an even bigger Singles Day winner. Shares of JD.com (JD) are up nearly 15% in the past three months, while Alibaba (BABA) has fallen almost 15% during the same time frame.
Beijing has been cracking down on Alibaba as of late, along with other top techs such as WeChat owner Tencent (TCEHY) and search giant Baidu (BIDU). Regulators have gone after these companies over antitrust and data protection concerns.
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