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JD.com stock pops as subsidiaries file for IPOs in Hong Kong

Yahoo Finance

Yahoo Finance Live discusses the rise of JD.com stock while their subsidiaries file for IPOS, despite the restrictions of Big Tech in China.

Video transcript

SEANA SMITH: All right, and also taking a look at jd.com, two of the Chinese tech companies subsidiaries filing for an IPO in Hong Kong on Thursday. Now, jd.com's property and industrials business filed for the IPOs. And jd.com would hold more than 50% of both companies' stock. You're looking at a gain of almost 8% today. So it looks like more of a split here among some of these larger tech plays.

DAVE BRIGGS: It's been a tough go, though, with the stock down 38% over the last two years. And really, this comes directly on the heels of Alibaba's announcement that they will split the six separate units in IPOs and all of those categories. And that stock shot up yesterday 14% and had another positive day today as it continues to ride the momentum up 3 and 1/2%. So some relief overall after that crackdown on big tech in China seems to be reversing itself now with some good news for both of those companies.