Is Now the Right Time to Buy Alibaba Stock?
Alibaba's (NYSE: BABA) stock price tumbled to an all-time low on Oct. 24 after Xi Jinping was confirmed for a third term as the general secretary of the Chinese Communist Party (CCP). Xi's reelection wasn't surprising, but his replacement of several moderate members of the CCP's politburo standing committee with hardline loyalists indicated China would likely retain its controversial zero-COVID policies, tightly regulate the private sector, and continue to butt heads with the U.S.
That outlook caused investors to dump their shares of Alibaba and other Chinese stocks. But has that steep sell-off -- which drove Alibaba below its IPO price of $68 -- created a promising buying opportunity for more optimistic investors?
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Source Fool.com
