rtmark
LearnBonds.com

Alibaba Stock Price Steady Despite Weakest Singles’ Day Sales Growth

Alibaba Group (BABA) Buys 33% Stake in $150 Billion Behemoth Ant Financial

Alibaba (NYSE: BABA) stock price remains steady after posting record Singles’ Day sales of $38 billion. Despite record sales, the sales growth remains weakest since it started this event in 2009. The annual shopping festival sales growth stood around 26% this year.

The deceleration in sales growth is due to the slowing e-commerce industry in China. Last year, it had generated 27% sales growth on the Singles’ Day event. Alibaba stock price is currently trading around $186, down slightly from 52-weeks high of $195. Market analysts are expecting BABA shares to hit $200 mark in the coming days.

BABA Alibaba Group Holding Limited daily Stock Chart

The Deceleration is Not Drastic

Fortunately, market analysts believe the decline is not drastic; the investors are currently focusing on the record number of $38 billion. This is the biggest one-day event in the world. The Black Friday clocked close to $25 billion in sales. Meanwhile, Cyber Monday reported almost $8 billion.

Almost 84 brands including Apple, Fast Retailing’s Uniqlo and L’Oreal have made more than 100 million yuan in sales in the first hour alone.

The majority of merchants used live streaming in its Tmall marketplace to sell products. “Nearly all our brands have opted for live streaming promotions sometime this year,” says Josh Gardner, who helps overseas companies sell products on Tmall.

Baird has set Baba stock price target at $200 despite concerns over slowing sales. Baird analyst Colin Sebastian said, “the magnitude of the slowdown appears less drastic than last year and that delivery levels had a healthy growth.”

Future Fundamentals are Strong for Alibaba Stock Price

Alibaba shares are likely to receive support from record Singles’ Day sales. This event sale of $38 billion is likely to help it in generating larger than expected growth in third-quarter revenue this year.

Alibaba Stock Price Steady...

Baba has generated 40% year over year revenue growth in the latest quarter. The market analysts are also expecting its revenue growth to receive support from the acceleration in cloud revenue.

Trusted & Regulated Stock & CFD Brokers

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.