Investor PerceptionThe strength of JD’s platform and its ability to capture the continuation of trade-in initiatives might have been under-appreciated by investors.
Market ReactionJD reported solid Q3 results and management expressed its optimism regarding outlook; sell-off post results unwarranted, in our view, especially when the company has repurchased over 8% of its shares YTD.
Share BuybacksManagement is focused on enhancing shareholder returns, though the pace of share buybacks has slowed.