Alibaba stock has been on a downward trend since October 23, 2020, leading to fears that the stock could be delisted from the New York Stock Exchange (NYSE) after another Chinese giant DiDi Global (NYSE:DIDI) revealed it was going to delist from the NYSE.
However, the stock has turned the tables to register a very strong upward surge of more than 31% today.
To help stock investors interested in investing in Alibaba stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Alibaba stock?
Alibaba stock is the stock of Alibaba Group Holding Limited and it trades on the Hong Kong Stock exchange under the symbol HKG: 9988. It also trades in the New York stock exchange under the symbol NYSE: BABA.
Alibaba Group Holding Limited, also known as Alibaba Group, is a multinational technology company that specializes in retail, internet, e-commerce, internet, and technology.
Alibaba runs the Alibaba.com eCommerce website.
Should I buy Alibaba stock (NYSE:BABA) today?
It could be the perfect time to buy the e-commerce giant’s stock following today’s surge which most likely signals an end of the bear trend.
Alibaba stock price prediction
The bears seem to have come to an end amid speculations among investors who strongly believe that the Alibaba stock is highly undervalued since the company has been making profits all along, there seems to be no end to Alibaba stock dip.
The stock’s price is expected to assume an upward trend moving into the festive Christmas season as sales increase.
$BABA stock social media coverage
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