The Rally Is Overdone as Alibaba Group Holding Ltd Hits An All-Time High
The latest pop in BABA stock was fueled by positive comments from Stifel analyst Scott Devitt who expects Alibaba to will continue to benefit from increasing online/mobile shopping penetration, offline/online retail integration and China’s emerging middle class. While BABA still may have room to run in the longer term, in the short term I feel the stock has come too far, too fast. Given the recent red-hot rally, it is healthy for BABA stock to pull back and consolidate.
Source:: https://finance.yahoo.com/news/rally-overdone-alibaba-group-holding-135153637.html
