皇冠体育app

A new wave of enthusiasm for Chinese companies swept Wall Street as e-commerce giant .com Inc made its Nasdaq debut on Thursday.

Shares of the Chinese online retailer closed at $20.90 on the first day, 10 percent higher than the offering price, igniting hopes that tech stocks, along with 皇冠体育app concept shares, are on the mend.

The company's initial pricing topped the expected range of $16 to $18 per share.

JD delivers Q1 loss ahead of its IPO

Shares of JD.com soar 17% in market debut

The $25.7 billion valuation made JD.com, whose business is largely limited to 皇冠体育app, the largest tech offering ever in the United States.

The lack of profitability of JD.com didn't seem to deter investors, said Hong Bo, founder of IT portal IT5G.

Earlier this week, JD.com reported a first-quarter net loss of 3.795 billion yuan ($608.4 million), in contrast to a year-earlier profit of 13 million yuan. Some analysts speculated that figure would affect its IPO performance.

Investors shrugged off the news, giving more weight to growth potential than short-term financial performance, Hong said.

The retailer's business model resembles that of .com Inc, which has proven to be successful and sustainable in the United States market, said Lin Wenbin, analyst at research firm Analysys International.

"Tantalizing" sales prospects helped JD double its valuation from the goal set in its prospectus last December, said Wang Liyang, a veteran technology commentator.

"Partnering with Internet giant " helped inspire investors to imagine a future for the company, Wang said.

JD's inflated capitalization may boost the valuation of rival Holding Ltd, which filed for an IPO in March. Alibaba's market value is projected to top $150 billion.

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