Alibaba Group Holding Limited (BABA)
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Alibaba Group Holding Limited (NYSE: BABA) shares bottomed out in early October and have been grinding higher in recent sessions. Alibaba Reverses Course: Alibaba shares came under pressure in late 2020 as Chinese regulators began cornering the company from all sides in order to curb its dominant market positioning.
BABA stock is the most overbought it has been in the past year. Time to take a guardedly bearish stance with a covered call.
Alibaba Trades Flat But Baidu, Tencent And Nio Rivals Xpeng, Li Auto Strike Gains In Hong Kong As Latest Evergrande Worries Ease2021-10-22 01:14
Shares of Alibaba Group Holding Limited (NYSE: BABA) traded flat, while Baidu Inc. (NASDAQ: BIDU), Li Auto Inc. (NASDAQ: LI), Xpeng Inc. (NYSE: XPEV) and Tencent Holdings Inc. (OTC: TCEHY) rose in Hong Kong on Friday; JD.Com Inc. (NASDAQ: JD) traded lower. What's Moving: Chinese e-commerce giant Alibaba's shares traded about 0.1% higher at HKD 174.00 and technology company Baidu's shares have risen 1.4% to HKD 178.00 in Hong Kong, while e-commerce company JD.Com's shares are down 0.2% to HKD 326.20.
Internet & E-commerce are the fastest growing areas in developing countries.
On Tuesday, Alibaba Group Holdings Ltd (NYSE: BABA) broke up from a bull flag pattern Benzinga called out on Oct. 17. The China-based e-commerce giant reversed into an uptrend on Oct. 5 after a multi-month downtrend where the stock lost over 55% of its value due to Chinese government crackdowns and strained U.S.-China relations.
Kenneth Akintewe of abrdn says Chinese stocks have started consolidating over the last few months, and he has some confidence when it comes to investing in the Chinese market.
Baillie Gifford Trimmed Positions In Alibaba, Tesla, Nio, Moderna In Q3, Here's What It Bought Instead2021-10-21 04:43
Investment firm Baillie Gifford lowered exposure in Tesla Inc (NASDAQ:TSLA), Alibaba Group Holding (NYSE:BABA) and Nio Inc (NYSE:NIO) in the third quarter and snapped up shares in vaccine maker Moderna Inc (NASDAQ:MRNA) and Ginkgo Bioworks Holdings (NYSE:DNA) instead, regulatory filings reveal. What Happened: Baillie Gifford, a 110-year-old asset management firm and an early investor in Tesla, sold 1.99 million shares in the Elon Musk-led electric vehicle maker in the third quarter, reducing its holdings in the company by 12.5% from the previous quarter.
Chinese stocks have made a surprise comeback this month, but should investors trust the bounce? Two traders discuss.
Steven Romick (Trades, Portfolio), manager of the FPA Crescent Fund, disclosed this week that his fund's top trades during the third quarter included the exchanging of its Alibaba Group Holding Ltd. ( BABA , Financial) and Baidu Inc. ( BIDU , Financial) holdings to Hong Kong-based shares ( HKSE:09988 , Financial)( HKSE:09888 , Financial), a short position in the SPDR S&P 500 ETF Trust ( SPY , Financial), a position boost in Prosus NV ( XAMS:PRX , Financial) and reductions to its holdings in Naspers Ltd.