JD.COM (JD) – Take Profits

I covered JD in May. It had been a high-growth company that had sunk to a low valuation, with a strong balance sheet and strong cash flow. The situation required a little patience, but the recent stimulus package in China unleashed a strong rally.

JD.COM

Source: Bloomberg

The stimulus packages seem to have been designed to break the bear market, but doubts are growing about whether or not a new bull market has begun. Given the short-term performance and doubts about continued performance, I have decided to exit the position in ByteTree Venture.