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Should You Buy Alibaba on the Post-Earnings Dip? -Breaking

by Mike Robinson

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© Reuters. Are You a Buyer of Alibaba on the Post Earnings Dip

China-based e-commerce giant Alibaba’s (BABA) shares have dipped more than 15% in price since the company reported its quarterly financials on November 18. So, can the stock rebound on the back of the company’s broad portfolio of products and services? Keep reading. Alibaba (NYSE:) Group Holding Limited, (BABA), is located in Hangzhou (China). It operates via various business segments including Taobao and Alibaba.com. The cloud segment has seen many developments in recent months. However, stock prices have fallen by 15.5% since BABA reported fiscal 2Q2022 financials on November 18. BABA failed to meet Street expectations for its top and bottom line.

BABA has also reduced its revenue guidance for 2022. BABA now anticipates that revenue growth will be between 20% and 23% in comparison to the 27% it had previously forecast.

According to Reuters, China’s market regulator imposed a stiff fine on several companies including BABA for failing to disclose 43 deals. The report also stated that the company had infringed upon anti-monopoly legislation. Also, BABA’s Singles’ Day sales growth percentage fell to its lowest in its history amid China’s tech crackdown. So, BABA’s near-term prospects look uncertain.

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