Alibaba Stock Is Beaten Down Now, but It Could 10X
When Alibaba Group (NYSE: BABA) went public at $68 per share on Sept. 18, 2014, it raised $25 billion and became the largest initial public offering (IPO) in U.S. history. At the time, the bulls were impressed by the Chinese e-commerce and cloud leader's rapid growth rates.
On Oct. 27, 2020, Alibaba's stock reached its record high of $312.87. That was a near five-bagger gain for its initial investors, and many analysts were convinced its stock could go even higher over the next few years.
Image source: Alibaba.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€72.70
-1.090%
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 positive potential of 49.93% for Alibaba Group Holding Ltd ADR compared to the current price of 72.7 €.
