Alibaba Stock Has a Lot to Prove This Week
Earnings season may be winding down, but one of China's most prolific growth stocks has yet to step up with its latest financial results. Alibaba Group (NYSE: BABA) will announce its fiscal second-quarter results before the U.S. market opens for trading on Thursday morning. A lot is riding on the report.
The e-commerce giant has been a disappointment to investors after initially surging in the early months of the COVID-19 crisis. The stock is trading lower for the third year in a row, bucking the trend of many high-octane growth stocks that have bounced back in 2023. Shares of Alibaba have plummeted 74% since peaking in fall 2020. A strong quarterly report on Thursday can get the struggling stock back on track.
Expectations are modest for this week's telltale report. Analysts see $30.77 billion in revenue for the fiscal quarter ending in September, a mere 6% year-over-year increase.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
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