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Cathie Wood's Ark Invest boosts its JD.com stake after earnings beat, signaling it's bullish on Chinese tech stocks again

August 25, 2021
Source: businessinsider.in businessinsider.in
News Snapshot:
Ark Invest; Insider Cathie Wood boosted its stake in JD.com after Q2 earnings beat analyst estimates. Ark Invest disclosed that it bought 164,889 shares in JD.com on Monday. Wood's investment firm recently offloaded Chinese tech stocks as regulatory risks mounted. Cathie Wood's Ark Invest added to its JD.com position on Monday after the e-commerce group reported strong second-quarter earnings that beat analyst estimates, signaling the star stock-picker is feeling more bullish on Chinese tech stocks. JD.com's revenue jumped more than 26% to 254 billion renminbi ($39 billion) last quarter, as it added a record 32 million users. Its total user...
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