Think late 2014, Alibaba had just IPO’d and the narrative in the U.S. was that the company was “the Amazon of China”. Shortly after, investors found out about Singles Day, a blitzkrieg sales event like similar to Cyber Monday. Analysts were estimating wild numbers and the hype poured into investor sentiment. The stock, already having doubled from its pre-IPO price, shot straight through $100 and hit $120 only a few sessions after that. It had a GPRO like trajectory. You forgot already? Here take a look…
What happened after though was the usual cycle of stock market victory turned disaster. CEO Jack Ma would regrettably admit he should have never taken the company public after all the limelight was pointed in his direction. Stock price plummeted and crushed any and all long trades.
Fast forward to today, Alibaba is looking healthy and back up over that $100 area just in time for the seasonal ramp into Singles Day.
This player to your left is thinking BABA reaches previous all time highs. Keep in mind this bet includes the earnings as well as the Singles Day event. Over $110 and this thing starts getting jiggy with it. Keep an eye out.
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