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Wait, Can Outsell Alibaba?!?!

Not to be outdone by competitor Alibaba, Chinese Internet retailer (JD) said that its sales in the first 11 days of November were up 50% year on year. may be the largest beneficiary of piggybacking on the Alibaba Group Holdings (BABA) one-day shopping extravaganza held Saturday, during which it settled $25.3 billion (RMB168.2 billion) of gross merchandise volume (GMV) through Alipay. That was an increase of 39% compared to 2016. Mobile accounted for 90% of total GMV, Alibaba said. saw a 50% rise in gross merchandise value during its Nov. 1 to 11 shopping promotion, to 127 billion renminbi, or $19.4 billion. So while JD is far behind Alibaba's raw volume, its rate of growth is very positive this month. JD shares are up 5% today, while Alibaba shares are up only 0.2%.