Investors betting against JD.com made $153 million after the company’s CEO was accused of sexual misconduct (JD)

Richard Liu JD.COMREUTERS/Aly Song

  • JD.com plunged after its CEO was detained in the US over a sexual-misconduct allegation.
  • Short sellers made $ 153 million in profits from the stock decline, which saw shares fall 14% last week.
  • Watch JD.com trade in real-time here.

JD.com short sellers — or investors betting on the company’s stock to fall — made millions last week after CEO Liu Qiangdong was detained in the US over a sexual-misconduct allegation.

Following the news that Liu was arrested over a rape allegation in Minneapolis over Labor Day weekend, JD.com’s stock dropped 14% last week. That generated mark-to-market profits of $ 153 million for short sellers, according to data from financial analytics firm S3 Partners.

See the rest of the story at Business Insider

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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