Should Investors Worry About Alibaba's Singles Day "Slowdown?"
Singles Day on Nov. 11 is the biggest shopping day in China. That's why it wasn't surprising when Alibaba (NYSE: BABA), the country's top e-commerce player, recently announced that its gross merchandise volume (GMV) rose 26% annually to $38.4 billion during that 24-hour period.
That growth rate was impressive, but it marked a slowdown from its 27% growth in 2018 and represented its slowest growth since the shopping event started in 2009. Does that slowdown suggest that Alibaba's core commerce business is losing its momentum?
Image source: Alibaba.
Source Fool.com
