Jul. 26 at 12:31 PM
$JD However, JD’s price action lately isn’t happening in isolation.
$BABA is slipping,
$BIDU is at 8/2024 levels,
$IQ is rock bottom,
$BZUN is back to the
$2’s, etc.
So, I do understand the EPS overhang, also keep in mind the suppression of P:E for most Chinese equities due to macroeconomic concerns and political tensions.
My investment thesis is these factors will resolve over time. Near term, I still expect that most stocks accelerate into earnings and then many drop back after earnings. We’ll see. 🤞
