JD.com Stock Falls 0.79% as $1.02 Billion Volume Ranks 170th Amid Strategic Shifts and GMV Decline

On September 19, 2025, , , ranking 170th in market turnover. The stock's performance followed a series of strategic updates and operational adjustments that impacted investor sentiment.

Recent developments highlighted the company's focus on optimizing its supply chain infrastructure, with announcements of new regional distribution hubs in Southeast Asia. Analysts noted these moves aim to reduce delivery costs amid intensifying competition in the e-commerce sector. Additionally, the firm announced a partnership with several third-party logistics providers to enhance last-mile delivery efficiency, though some investors viewed the move as a reactive measure rather than a proactive growth strategy.

, driven by softer consumer demand in key markets. While the company reiterated its commitment to long-term profitability, the absence of near-term revenue growth drivers contributed to cautious positioning among shareholders.

To run this test properly we need to clear up a couple of practical details: 1. Universe • Which market(s) should we scan each day? (e.g., all US-listed common stocks, only S&P 500 constituents, another universe?) 2. Trading convention • When the “top-500 by volume” list is formed on a given day, do we a) buy at that day’s close and exit at next day’s close, or b) buy at next day’s open and exit at the same day’s close? (b) is the usual way to avoid look-ahead bias, but let me know your preference. 3. Transaction costs & slippage • Should we include any assumptions (commission, bid/ask spread) or keep it frictionless? Once these points are set I can pull the volume data, build the daily selection list and run the 1-day rotating portfolio back-test.