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Is Alibaba Stock A Buy Right Now?
Alibaba (BABA) shares rose sharply early Monday on news its massive financial services arm, Ant Financial, will list its shares on both the Shanghai stock exchange's STAR board and the Hong Kong stock exchange. But does that make Alibaba stock a buy right now?To get more Alibaba news, you can visit shine news official website.
After a heavy volume breakout for Alibaba stock in late November, the coronavirus stock market crash brought sellers into the stock. But the leading China stock and member of IBD's new Long-Term Leaders portfolio held up better than most growth stocks. Alibaba stock has shown improved relative strength as it trades above a 231.13 buy point.
Indeed, Alibaba's weekly chart shows the stock could still be in the early stages of a move. That's because Alibaba's latest breakout was from an early-stage base.
A 36% pullback for Alibaba stock in the second half of 2018 shook out a lot of sellers in the stock and ultimately served to reset the base count.
Alibaba Stock Fundamental Analysis
When it comes to liquid, megacap stocks in China, it's hard to find a more compelling name than Alibaba. The stock has been a big winner since its IPO in September 2014.
In June, Alibaba reported record sales at the 618 shopping festival in China. Sales across the e-commerce giant's shopping platform totaled $98.52 billion. Known as 618 because it occurs every year on June 18, Alibaba's strong sales showed that the China consumer is alive and well.
The company has been able to stay in growth mode despite a slowdown in its core e-commerce business.
Alibaba's business in China looks a lot like Amazon's in the U.S. Alibaba's cloud-computing business is showing solid growth, just like Amazon's booming web services business.
Alibaba also sees dollar signs in food delivery. In 2018, it merged its food delivery service Ele.me with its lifestyle app Koubei to better compete with Tencent (TCEHY)-owned Meituan.
Sales at Alibaba's digital media and entertainment unit are also rising. The unit includes Alibaba's videostreaming platform Youku, along with its music streaming service, Xiami. Alibaba also has a licensing agreement with Walt Disney (DIS) unit Buena Vista International, giving it access to a large amount of Disney content.And just like Amazon, Alibaba sees potential in the sports streaming market. In 2018, the company partnered with China Central Television and streamed all matches of the 2018 FIFA World Cup. Alibaba said the World Cup, as well as continued investment in original content, fueled daily average subscriber growth of 200% for Youku.