Trending Stocks: Facebook, Alibaba, Bank of America, and More

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With 11/11 approaching, Chinese e-commerce companies Alibaba Group Holding Ltd (NYSE:BABA) and JD.Com Inc(ADR) (NASDAQ:JD) are in the spotlight after China’s State Administration for Industry and Commerce warned various online internet giants including Alibaba and JD.com against any shady sales tactics during the upcoming ‘Singles Day’, which is the biggest online shopping day of the year in the country. Specifically, the business regulator has warned that the e-commerce companies should not falsify sales figures, sell fakes, and other frowned-upon actions. Some companies in China have been previously accused of fudging numbers to make their results better than what they actually were. In May, Alibaba disclosed that the SEC was probing some of its actions, including how it reported revenue during Singles Day. If Alibaba and JD.Com’s singles day sales come in better than estimates, the sentiment towards the two stocks could improve. A total of 51 funds from our database held bullish positions in JD.Com Inc(ADR) (NASDAQ:JD) on June 30, while 69 were long Alibaba Group Holding Ltd (NYSE:BABA).

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