The Alibaba stock took a hit on Friday and dropped by about 29% after the Chinese retail Giant warned of a slowdown in consumer spending.
The dip comes even as Alibaba’s revenue in Q3, 2021 rose by over 29% to about 200.7 billion yuan ($31.4 billion), though it is the slowest growth for the last year and a half.
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To help stock investors interested in investing in Alibaba stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Alibaba stock?
Alibaba stock is the stock of Alibaba Group Holding Limited and it trades in the Hong Kong Stock exchange under the symbol HKG: 9988.
Alibaba Group Holding Limited, also known as Alibaba Group, is a multinational technology company that specializes in retail, internet, e-commerce, internet, and technology.
Alibaba runs the Alibaba.com eCommerce website.
Should I buy Alibaba stock today?
Though on the decline in the last 24 hours, Alibaba is still a world leader in the e-commerce business and it could be a great stock to buy.
Alibaba stock price prediction
Though it is difficult to make a decisive price prediction of Alibaba stock price, experts believe that the stock shall revert upwards and trade above $20 (155.80 HKD) by the end of this year.
Alibaba stock social media coverage
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