Where Will Alibaba Be in 1 Year?
The past year has been a volatile one for Alibaba (NYSE: BABA), China's largest e-commerce and cloud platform company. The stock price fell with the broader market as the COVID-19 pandemic hit China in early 2020, but rebounded as its online sales rose and stay-at-home measures boosted the usage of its cloud services.
However, a series of regulatory challenges abruptly ended Alibaba's rally at the end of the year. Chinese regulators suspended the long-awaited IPO of Alibaba's fintech affiliate Ant Group, fined Alibaba for its unapproved takeover of InTime Retail, then launched an antitrust probe into its e-commerce business.
Meanwhile, the "disappearance" of Alibaba co-founder Jack Ma, rumors of China's plans to nationalize Alibaba and Ant, delisting threats in the U.S., and the Pentagon's desire to add Alibaba and Tencent (OTC: TCEHY) to an investment blacklist over their alleged ties to the Chinese military all cast a dark cloud over the stock.
Source Fool.com
