No better time to have eyes on Alibaba, after seeing disappointing reports for the retail businesses early this week, discussed in our latest #MarketMonday. The retail businesses profits are slowly fading, as their customers slip away onto slicker, faster and cheaper online shopping experiences. Alibaba Group Holding Ltd’s (BABA) stock price is currently at $78.31, concluding an arguably eventful week.
Alibaba Stock Price Update Today (BABA) – May 17, 2016: (Release: 05/17/16) The Money Morning Stock Research Team discusses the company’s situation in comparison to that of last year. Their stock is trading at approximately 10.37% less than it was same time last year, and they give out no dividends. Their 52-week high is $95.06 and the 52-week low is $57.20 and their EPS is of $4.41. Even though they are in the right train they have not been reflecting it on their performance for the last several weeks.
Alibaba Accelerates Cloud By Partnering With Softbank: (Release: 05/19/16) While Alibaba has long been synonymous with its e-commerce business, they have been reflecting their plans for the future given their recent strategies in expanding into the cloud business with AliCloud. Lior Ronen (@Lior_Ronen) points out that their successful cloud business is given scarce attention even though they present the most impressive year over year growth. This will give them something to compete against rival Amazon Web Services (AWS). Despite being a considerably small development Alibaba is undoubtedly moving towards the cloud trend hoping to be able to benefit from the growth of the cloud infrastructure services like big data analytics companies have.
Alibaba’s Counterfeiting Issues Come to a Head: (Release: 05/19/16) Alibaba had a reputation hit this week when the International AntiCounterfeiting Coalition (IACC) reconsidered admitting the online giant as a special member considering all the accusations about counterfeit goods being sold on their platforms. However, Nelson Wang (@NelWang) points out that their stock price was actually trading flat at $79.31 early Wednesday. Although tensions remain with the IACC, it looks like it was solely a reputational hit.
One Reason Alibaba (BABA) Stock Is Higher Today: (Release: 05/18/16) To add onto the eventful week, Kaya Yurief (@kyureff) discloses interesting insight on the slight price rise of 0.19% early Wednesday afternoon. Rumors are out that Alibaba has been discussing becoming a major sponsor of FIFA, according to sources cited by Bloomberg. The same source reveals that the e-commerce giant would become the second Chinese company to commit to soccer’s governing body at a high level.
Stay afloat on Alibaba’s value by following them on Call Levels.