2024-04-03 23:39:50 ET
Summary
- Alibaba shares have been heavily discounted, making them a compelling buy with potential for future growth.
- Billionaires, including David Tepper, have been buying Alibaba shares, indicating confidence in the company.
- BABA itself has been buying back shares, and insiders, including Jack Ma and Joe Tsai, have made significant purchases, further boosting confidence in the stock.
Alibaba Group Holding Limited ( BABA ) was a stock I first seriously considered buying a few years ago when a friend in Zurich (who worked in finance) said it was one of her top ideas. I ended up buying some shares of this leading tech company and the stock went up. I sold it (a bit too early) and I watched it go even higher to around the $300 level. Since then I have been very firm about not buying any Chinese stocks and that has been a smart decision since there has been a major decline for many stocks that are based in China. There is clearly a lot of risk involved in buying just about any stock, but especially buying Chinese stocks, which seem to have elevated risks of accounting issues, as well as government crackdowns, and geopolitics. So that basically means I won't buy Chinese stocks as a general rule....
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Alibaba: Shares Decimated From $300 To $70, I'm A Buyer