If you think Xi Jinping is just Mao Zedong in a suit, don’t buy BABA stock. If you disagree, as I do, then read on
- Alibaba stock rose 20% after China’s government indicated support for the market
- The stock is still dirt cheap, and troubles remain
- If peace breaks out, so will the stock
Alibaba Group Holding (NASDAQ:BABA) stock may be the biggest mistake I’ve made in four decades of investing.
I bought Alibaba over a year ago. I still own it. I lost a lot of money. So did anyone who followed my advice.
Now Alibaba is rising again, having bounced off a low near $77/share. TV analyst Kevin O’Leary bought the dip. China’s government says it will now support the market.
Teasing out Alibaba’s value has become difficult since President Xi Jinping began his crackdown on the tech sector in 2020. Is he regulating tech, or is he really Mao Zedong in a suit?
Read more about BABA stock here
The post Alibaba Stock Is Still an Investable Bottom originally appeared at InvestorPlace.