why is alibaba stock down reddit
Alibaba may seem undervalued considering the current prices within the overall stock. The freefall of Chinese e-commerce giant.
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So far in 2021 BABA stock is down around 30.
. Jack ma doesnt even hold a large stake in BABA anymore and hasnt been the CEO for years now. Alibaba is trading at multi-year lows. According to the data from Fintel BABA stock had a short volume ratio of 125 percent on June 25 which is the highest in the last 10 days.
BABA is down 28 year-to-date following a decline of 48 in 2021. While it has come off the lows its still down almost 30 percent in 2021. Also when looking at Alibaba stock the company trades at a rather modest valuation multiple compared to its peers.
Alibaba stock short squeeze. The stock shot up 3 two days after Alibaba announced it would be allowing. Recently Alibaba BABA stock hit its 52-week low amid the sell-off in Chinese tech stocks.
On Thursday it sank as much as 9 to an intraday low of 9082. According to the report Alibaba was one of the companies that was asked to prepare. This comes on the end of a difficult month during which the stock has shed almost 14 of its value.
Its fall really started when Beijing took aim at Alibabas founder Jack Ma. As of noon ET NetEase shares are down 72 from Fridays close Baidu stock is off 75 and Alibaba is leading the Chinese tech sector lower with a loss of 82. Alibaba stock managed to move away from multi-year lows after Chinas Vice.
In addition to creating Alibaba Ma was head of Ant. Obviously this is the result of the massive sell-off we. On a bearish day for Chinese stocks Alibaba took a big hit and dropped 8 during the March 10 session.
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