1 Growth Stock Down 77% to Buy Right Now

The case for not owning a stake in China's e-commerce powerhouse Alibaba Group (NYSE: BABA) has been strong enough since late 2020. That's when the rapid growth of online shopping spurred by the COVID-19 pandemic started to slow down. And that's also when regulators in Beijing began a sweeping crackdown on many of China's top technology companies. Economic malaise stemming from the country's long-lived COVID-19 lockdowns has crimped much of China's consumerism in the meantime.

As the old saying goes though, nothing lasts forever. The forces that have driven Alibaba shares down more than 75% from their 2020 peak are not only quietly abating, but they may have already reversed course. Alibaba stock should do the same soon enough.

China's economy still has problems, to be sure. Chief among them is its real estate market. Not unlike what's taken shape within the United States, China's real estate prices soared to unsustainable levels last year and early this year. Now, those prices are unraveling, although according to Oxford Economics, it could take between four and six years for the nation's real estate prices to fully stabilize.

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Source Fool.com