Hedge Funds Ditch Alibaba for Rival JD.comBy
Hedge Funds boosted ownership of JD.com while cutting Alibaba
JD.com is up 41% since IPO as Alibaba trades at listing price
Less than a year ago investors were scrambling to pick up shares in Alibaba Group Holding Ltd. when Asia’s largest e-commerce company made its record debut on the New York Stock Exchange. Now sentiment is changing as JD.com Inc., its smaller competitor, is becoming a hedge fund favorite.
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