Why JD.Com Inc. (JD) Skyrocketed on Friday

We recently compiled a list of the Why These 10 Stocks Were Skyrocketing on Friday. In this article, we are going to take a look at where JD.Com Inc. (NASDAQ:JD) stands against the other stocks that were skyrocketing on Friday.

Wall Street saw a strong trading session on Friday, with all major indices finishing firmly in the green ahead of President-elect Donald Trump’s return to office.

The Dow edged higher by 0.78 percent, while the S&P rallied 1 percent. Nasdaq, for its part, jumped 1.51 percent.

Ten companies—predominantly Bitcoin miners—were among the day’s standout performers, posting significant gains amid growing optimism in the broader cryptocurrency market, thanks to Trump’s commitment to supporting the sector.

To come up with Friday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A wide and imposing view of a supply chain distribution center, illustrating the company’s technology capabilities.

JD.Com Inc. (NASDAQ:JD)

Shares of Chinese retailer JD.Com Inc. (NASDAQ:JD) jumped by 10.11 percent on Friday to finish at $39 each as investors took heart from a recently sealed partnership with a government-run technology company for the launch an aquaculture farm in the southeast province of Guangdong.

Called the Jingdong Intelligent Fishery Industry Park, the two firms aim to produce 5,000 metric tons of output in 2025 worth $60.2 million with profits expected to be at $19.6 million.

The project will focus on mandarin fish, which is a premium species in Chinese seafood restaurants and is also popular in the e-commerce gift market.

As one of China’s biggest e-commerce players with a 20-percent market share and with 1,300 warehouses across China, JD.Com (NASDAQ:JD) is a sought-after partner for local governments seeking to build new or modernize existing agriculture and fisheries operations.

Overall JD ranks 2nd on our list of the top-performing stocks from Friday’s session. While we acknowledge the potential of JD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than JD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.