Why Alibaba Stock Dived by Nearly 4% Today
An apparent effort at muscling into the e-commerce market of a neighboring country wasn't very impressive to (NYSE: BABA) investors on Thursday. They traded out of the Chinese online retailer's stock, to the point where its U.S.-listed shares closed the day down by 3.9%. In contrast, the slumping S 500 index shed only 0.3% of its value.
Nikkei Asia, quoting a report from South Korea's Yonhap News Agency, published an article stating that Alibaba is to invest $1.1 billion in that country. The intent is to establish a logistics network in order to compete with that country's e-commerce leader Coupang.
Alibaba will apparently leverage its ability to offer low prices, and with a strong logistics effort it will get goods to customers rapidly.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
The stock is one of the favorites of our community with 42 Buy predictions and 2 Sell predictions.
With a target price of 109 € there is a hugely positive potential of 55.49% for Alibaba Group Holding Ltd ADR compared to the current price of 70.1 €.
