Today, shares of Alibaba are rallying. This is great news because the stock has remained dormant since its post IPO run up.
A bright sign is that its stock price has held up over $100 per share, which lends credence to the fact that its rise from its IPO price reflected shares being undervalued at that point.
In my opinion, it will rise above $115 per share this year and I expect it to go to at least $120 per share.
Disclosure, long BABA.
A bright sign is that its stock price has held up over $100 per share, which lends credence to the fact that its rise from its IPO price reflected shares being undervalued at that point.
In my opinion, it will rise above $115 per share this year and I expect it to go to at least $120 per share.
Disclosure, long BABA.
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