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13.04.2021 15:29:00

Alibaba: Is the Worst Over Now?

Shares of Alibaba (NYSE: BABA) were flying higher on Monday after the company received a $2.8 billion fine from China's anti-monopoly regulator, the State Administration for Market Supervision (SAMR). It might seem strange for the Chinese e-commerce stock to jump on the news, climbing as much as 9%, since the announcement had the reverse of a buy-the-rumor/sell-the-news effect. But that's because investors had been fearing the threat of a fine from SAMR since December when the agency first announced an investigation into Alibaba.That news caused Alibaba shares to plunge 13% on Dec. 24, wiping out $100 billion in the stock's market value, though today Alibaba recouped more than half of those losses.Continue reading
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