Short bets at record as Walmart fails to subdue JD.com bears
Cooperation with Wal-Mart is unlikely to bring a quick and easy result for the company, says an analyst
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New York
NOT even a stronger alliance with the world's largest retailer was enough to convince short sellers that JD.com Inc's recovery will last.
Bearish bets on China's second-largest e-commerce company rose to record levels after Wal-Mart Stores Inc said in a regulatory filing that it raised its stake to 10.8 per cent from 5.9 per cent. The increased investment came after a 34 per cent rally in JD.com's US-traded stock in the past four months narrowed its 2016 decline to 16 per cent.
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