JD.com's stock price fell by 5.8% after Walmart sold its stake

On Wednesday morning Eastern Time, Chinese e-commerce company JD.com's stock price fell by 5.8% after Walmart announced the sale of $3.74 billion worth of JD.com shares. According to local media reports on August 20th, Walmart sold 144.5 million shares of JD.com at a price of $24.95 per share. The media pointed out that Walmart's sale price of JD.com shares was 11% lower than the closing price of US stocks on the 20th, close to the lower limit of the indicative range of $24.85-25.85. At 10:33 am Eastern Time on Wednesday, JD.com's stock price fell by $1.64, a decrease of 5.80%, to $26.56