3 Reasons to Buy Alibaba Stock Like There's No Tomorrow
The Chinese e-commerce and cloud leader still has room to run.
Alibaba's (NYSE: BABA) stock closed at a record high of $306.16 on Oct. 27, 2020. At the time, investors were impressed by the Chinese e-commerce and cloud leader's wide moat, rapid growth rates, and its expansion into adjacent markets.
But by Oct. 24, 2022, Alibaba's stock had dropped below its IPO price of $68 and closed at its all-time low of $60.99. Its stock crashed as China's antitrust regulators cracked down on its e-commerce business, formidable competitors like PDD Holdings gained ground, and the broader economy cooled off.
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