Google to Invest $550 Million in JD.com – JD.com Stock Up +5%
Alphabet Inc.’s (NASDAQ: GOOGL) Google subsidiary announced that it will be investing $550 million in Chinese e-commerce powerhouse JD.com (NYSE: JD) in exchange for 27,106,948 newly issued Class A shares at a price of $40.58 per ADS. JD.com’s stock has responded to the news by rising more than 5% in pre-market trading, while the stock of Google’s parent company, Alphabet, is down just over 0.5%.