2024-04-04 11:53:25 ET
Summary
- I refrain from describing Alibaba Group Holding Limited stock as a "dead money" investment and see 3 bullish factors that make it a "Buy" right now. Read on.
- We can see from the latest sales and EBITA dynamics in the company's various segments that things are generally going well financially and operationally.
- A large share buyback program should lead to an imbalance of supply and demand in the market. Alibaba plans to buy back 19.5% of its market cap in 3 years.
- I think Alibaba is ready to break out, forming a clear RSI divergence on the weekly chart and approaching a key price level.
- Overall, I continue to believe in the company's potential and reiterate my "Buy" recommendation for Alibaba stock today.
My Thesis
In the last 3 years, Alibaba Group Holding Limited ( BABA ) shares have fallen by 68%, despite desperate attempts by management to buy them from the market in large quantities to save the quotes from a further correction....
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For further details see:
Alibaba Stock: Why It's Not Dead Money