Why These 10 Stocks Were Skyrocketing on Friday

2. JD.Com Inc. (NASDAQ:JD)

Shares of Chinese retailer JD.Com (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 (JD) is a sought-after partner for local governments seeking to build new or modernize existing agriculture and fisheries operations.