A Bull Market Could Be Here: 3 Reasons to Buy Alibaba Stock
There's no denying stocks aren't firing on all cylinders right now. Yet, a handful are creating their own tailwinds that are bigger than any headwinds that could end up blowing against them. If sustained bullishness is in the cards, shares of these companies still stand to outperform.
One to consider now is (NYSE: BABA), the name behind China's e-commerce platforms Taobao and Tmall. It also owns a logistics business called Cainiao (which was recently spun off), a cloud computing arm, and a handful of other smaller projects.
E-commerce is its breadwinner, however, accounting for more than half of Alibaba's revenue, and roughly the same proportion of its profits. Its stock's performance is still most closely tethered to this consumer-facing operation. That's largely why BABA stock hasn't been a particularly great performer of late. Shares fell in 2021 and 2022 due to the economic impact of the COVID-19 pandemic.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
The stock is one of the favorites of our community with 43 Buy predictions and 2 Sell predictions.
With a target price of 109 € there is a hugely positive potential of 58.89% for Alibaba Group Holding Ltd ADR compared to the current price of 68.6 €.
