JD Stock Grabs Retail Eyeballs On Hong Kong Pop As China Moves To Level Food Delivery Playing Field

JD emerged as the top trending ticker on Stocktwits late Wednesday as retail investors tracked the sharp gains in the company's shares in Hong Kong amid regulatory news.

China's market regulator has proposed new rules for the domestic food delivery industry, which aim to increase transparency regarding subsidies and discounts, as well as cap the fees charged to restaurants, according to a report from national broadcaster CCTV on Wednesday.

Alibaba, Meituan, and JD are burning significant cash on discounts, subsidies, and promotions to expand their food and instant delivery businesses, and the new rules are expected to rein in their spending.

On Stocktwits, the retail sentiment for the stock has climbed higher into the 'bullish' zone as of late Wednesday, with users excited that JD could be beginning to catch up to its larger peer, Alibaba, whose stock has seen an incredible rally recently on the back of the company's artificial intelligence innovations.  

"$JD thank you to the heavy hitters whoever you are for changing the narrative," remarked one user.

JD's Hong Kong shares rose 6.2% to an over four-month high in afternoon trading Thursday, Hong Kong time. Shares had advanced 3.7% the previous day.

Following JD's entry into the food delivery space with JD Takeaway in February, market leaders Meituan and Alibaba's Ele intensified promotions and discounts to undercut one another.

That raised concerns among investors about an all-out spending war, which could threaten company profits, and also drew scrutiny from Chinese authorities, who are concerned about a downward price spiral in an already weak Chinese economy.

As of last close, JD stock on the NYSE is up a mere 1.7% year-to-date, far below BABA's 110% gains.

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