Is It Finally Safe to Buy Alibaba Stock?
Alibaba (NYSE: BABA) notoriously burned investors in 2021.
When American tech stocks were soaring during the COVID-19 pandemic, the Chinese tech giant was heading in the other direction as a crackdown from Beijing made the stock kryptonite to many investors, and a weak Chinese economy only made matters worse.
Now, after chugging along in the sub-$100 range for a roughly three-year period, something surprising has happened to the stock. Alibaba is soaring. The stock is up 44% over the last month, and has more than doubled year to date, up 110% now.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€130.80
-1.510%
The stock is one of the favorites of our community with 44 Buy predictions and 1 Sell predictions.
With a target price of 157 € there is a positive potential of 20.03% for Alibaba Group Holding Ltd ADR compared to the current price of 130.8 €.
