1 Growth Stock Down 75% to Buy Right Now
It's been a tough past three years for most of China's stocks. (NYSE: BABA) has been no exception. Shares of the e-commerce company soared during and because of the COVID-19 pandemic. Then Beijing's crackdown on the country's technology companies, coupled with China's long-lived coronavirus lockdowns, knocked Alibaba stock into a downtrend that seemingly remains underway.
However, now may the time to revisit this name while it's down 18% from its July peak -- and a hefty 75% below its 2020 high. A bull market might well be brewing which could lift China's currently struggling stocks with it. There are three reasons in particular Alibaba stock is primed to lead such a charge.
If you've kept your finger on the pulse of China's economy of late, then you likely know it's seen better days. Gross domestic product (GDP) growth rates on the order of 10% (or more) rooted in industrializing and the advent of tech are a thing of the increasingly distant past. These sorts of growth catalysts just don't exist anymore.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
With 41 Buy predictions and 2 Sell predictions Alibaba Group Holding Ltd ADR is one of the favorites of our community.
As a result the target price of 109 € shows a very positive potential of 54.61% compared to the current price of 70.5 € for Alibaba Group Holding Ltd ADR.
