Why did JD.com stock jump up today? Atlantic Equities starts with overweight rating
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JD.com (NASDAQ:JD) shares surged on Tuesday after Atlantic Equities started coverage on the Chinese e-commerce company with an overweight rating and a $100 price target.
JD.com (JD) gained more than 10% to finish at $76.76, sitting near a one month high. Volume was also heavy, as more than 27 million shares changed hands, more than 2.7 times the average daily volume of just over 10 million.

Separately, CNBC reported that JD.com was opening automated stores in Europe, akin to Amazon's (NASDAQ:AMZN) Go stores.
Following the move higher was other Chinese tech stocks, as Alibaba (NYSE:BABA), Weibo (NASDAQ:WB) and Baidu (NASDAQ:BIDU) all gained roughly 3% of more as tech stocks rebounded on Tuesday.
Late last month, JD.com (JD) entered into a $2 billion, five-year unsecured term and revolving loan facility with five lead arrangers, its first green loan facility.