Why JD.com stock is down today

Actions of JD.com (NASDAQ: JD) were falling on the news today that Walmart (NYSE: WMT) has divested its stake in the Chinese e-commerce company, according to a Securities and Exchange Commission filing this morning.

JD and Walmart were once seen as partners in China, but the share sale seems to indicate that Walmart has soured on the relationship, especially after JD.com’s stock has underperformed in recent years.

As of 11:38 a.m. ET Wednesday, shares of JD.com were down 5.2% on the news.

Continue reading