NEW YORK (TheStreet) -- JD.com (JD) hit a 52-week high on Monday as it continued gains on last week's news that China's second-largest e-commerce site integrated into social media, which increased revenue.
JD opened a direct entry link to WeChat, a social media application owned by Tencent Holdings. This increased daily sales on the site eightfold, according to Bloomberg. Tencent bought 15% of JD.com in March and has 400 million monthly active users on WeChat.
The stock was up 8.35% to $28.80 at 12:34 p.m.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts