BABA stock news: Alibaba Group Holding closes the week higher as ADR rollercoaster continues
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NYSE:BABA gained 0.47% on Friday as the broader markets fell for the fifth straight session.
- AliBaba explains how it will use its recently created Common Prosperity Fund.
- One venture capitalist is bullish on AliBaba and predicts an ANT Group IPO.
NYSE:BABA finished the week strong, which is not something that can be said for the broader markets in general. On Friday, shares of AliBaba gained 0.47% and closed the trading session at $168.10. The small gain capped off a tumultuous week for Chinese ADRs, as further regulations from the government have re-instilled fear into investors. Earlier this week, the CCP announced some sweeping regulations to the gaming industry that affected companies like AliBaba-rival Tencent. Shares of Tencent were trading lower again on Friday, as were other Chinese stocks like PinDuoDuo (NASDAQ:PDD), Didi (NYSE:DIDI), and Nio (NYSE:NIO).
Stay up to speed with hot stocks' news!
Earlier this month, AliBaba joined other tech giants in donating billions of dollars to a government-run common prosperity fund. The fund is intended to shrink the gap between classes and create a prosperous China for all citizens. AliBaba created its own separate common prosperity fund that it intends to establish in its home Province of Zhejiang where 20 billion of the 100 billion yuan donated will go. The company is attempting to leverage its strengths as an eCommerce platform to help grow the smaller, more rural areas of Zhejiang by 2025.
BABA stock price target
One prominent venture capitalist who was an earlier investor in AliBaba itself is still bullish on Chinese companies. Lead Edge Capital co-founder Mitchell Green still believes an Ant Group IPO will occur in the U.S. markets during the next year, and that this will signal an end to the increase in government regulations. Green expects stocks like AliBaba to be trading at much higher prices in three to five years.
- NYSE:BABA gained 0.47% on Friday as the broader markets fell for the fifth straight session.
- AliBaba explains how it will use its recently created Common Prosperity Fund.
- One venture capitalist is bullish on AliBaba and predicts an ANT Group IPO.
NYSE:BABA finished the week strong, which is not something that can be said for the broader markets in general. On Friday, shares of AliBaba gained 0.47% and closed the trading session at $168.10. The small gain capped off a tumultuous week for Chinese ADRs, as further regulations from the government have re-instilled fear into investors. Earlier this week, the CCP announced some sweeping regulations to the gaming industry that affected companies like AliBaba-rival Tencent. Shares of Tencent were trading lower again on Friday, as were other Chinese stocks like PinDuoDuo (NASDAQ:PDD), Didi (NYSE:DIDI), and Nio (NYSE:NIO).
Stay up to speed with hot stocks' news!
Earlier this month, AliBaba joined other tech giants in donating billions of dollars to a government-run common prosperity fund. The fund is intended to shrink the gap between classes and create a prosperous China for all citizens. AliBaba created its own separate common prosperity fund that it intends to establish in its home Province of Zhejiang where 20 billion of the 100 billion yuan donated will go. The company is attempting to leverage its strengths as an eCommerce platform to help grow the smaller, more rural areas of Zhejiang by 2025.
BABA stock price target
One prominent venture capitalist who was an earlier investor in AliBaba itself is still bullish on Chinese companies. Lead Edge Capital co-founder Mitchell Green still believes an Ant Group IPO will occur in the U.S. markets during the next year, and that this will signal an end to the increase in government regulations. Green expects stocks like AliBaba to be trading at much higher prices in three to five years.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.