Dear readers, first a Merry Christmas to All of you! Wishing you and family joy, health and prosperity!
As we are going to enter into year 2021, I am going to share with you one stock that has surprised me and I believe many investors in year 2020.
This is the stock that started year 2020 at USD 219.77 and went on to an intra-year high in 2020 of USD 319.32 in November 2020, gaining almost 50% before its stock price went on a decline to where it started off year 2020 at its current price.
And this decline from USD 319.32 to its current price of USD 222 which was an almost 33% drop took place in just less than 2 months! What stock am I talking about?
Well, this stock is none other than the stock which has just given up 13.34% of its market value after the close of yesterday’s trading session. And this 13.34% decline is not cheap: it translated into a US $100 billion loss!
This stock is none other than Alibaba (NYSE: BABA) whose stock price took a dive of 13.34% after the Chinese government said it would open up an antitrust investigation into AliBaba. And in November 2020, AliBaba stock also declined after the Chinese government blocked the IPO of Ant Group, Alibaba’s financial subsidiary.
Well, it seems that though AliBaba is such a brand name and many have touted this stock for further growth potential, investors interested in AliBaba stock may want to wait for a clearer way ahead for the company in light of the current development on the company.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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