This Michael Burry stock just announced a $5 billion share repurchase program

One of legendary investor Michael Burry’s top five holdings, JD.com (NASDAQ: JD), announced on August 27 a $5 billion share repurchase program.The share buyback program, which will last from September 2024 through August 2027 and include American depositary shares (ADS), aims to rekindle investors’ confidence in the face of growing competition in the Chinese e-commerce sector.This program will be another positive development after JD.com posted a beat of its profit forecasts for Q2 on August 15 and will ser ...