Alibaba dropped by 13.66% in a month
Alibaba Group is China’s e-commerce giant. The company ran into an enormous $3 billion antitrust fine after its founder Jack Ma criticized local financial regulators. The conflict also triggered Ant Group’s IPO suspension in 2020.
Why is Alibaba stock declining?
China’s zero-tolerance policy regarding COVID-19 has taken its toll on Alibaba. Despite a positive quarterly report issued on Feb. 23, the bulls still prefer to steer clear. Its stock is still over 70% below its all-time high since Oct. 2020 due to a risk of delisting on US exchanges.
Why should you invest in Alibaba Group stock?
– China’s economy is improving and regulators are starting to relax their grip.
– The company’s cloud business is growing. Although Alibaba Cloud is still lagging behind Amazon Web Services, Microsoft Azure and Google Cloud, the trend is positive.
– Jack Ma has left Ant Group, which opens the door for Ant Group’s IPO. It could mean a significant cash injection for Alibaba.
Now that you have all the info, it’s high time to open trades on Alibaba stock in the platform’s Forex mode
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