BABA Stock Price: Alibaba shares tank on possible SoftBank sale
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CLAIM OFFERNYSE:BABA fell by 1.01% during Friday’s trading session.
- AliBaba is preparing to report its earnings later this month.
- Amazon soars and lifts markets after blowout earnings.
UPDATE: BABA is down more than 5.7% to $115.30 in Monday's New York session after analysts at Citigroup think early investor Masayoshi Son's SoftBank Group is preparing to sell a large stake in the investment that made him rich. The company registered with the Securities & Exchange Commission on Friday to list 1 billion American Depository Shares in the US. As of Friday, the value of this stake represents 25% of the ecommerce giant and about $120 billion.
NYSE:BABA could not keep the momentum rolling on Friday, but still managed to record one of its stronger weeks in recent memory. Shares of AliBaba dipped by 1.01% and closed the trading week at $122.22. The broader markets fought back on Friday after the stunning selloff of Meta Platforms (NASDAQ:FB) tanked global markets on Thursday. The NASDAQ and S&P 500 were lifted on Friday by a strong earnings report from AliBaba rival Amazon (NASDAQ:AMZN), as the two indices gained 1.58% and 0.52% respectively. The Dow Jones was in the red on Friday as the blue-chip index saw a minimal loss of 21 basis points to close the week.
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While an exact date has yet to be announced, AliBaba is set to report its earnings later this month. It will be the company’s first December earnings report since the Chinese government implemented its series of regulatory crackdowns. All eyes will be on AliBaba’s projected growth under the new regulations. The stock has famously lost 54% of its value over the past year, but so far in 2022 it seems to have finally found a bottom. AliBaba’s earnings call later this month could dictate its new growth projections for the foreseeable future.
BABA forecast
AliBaba-rival Amazon blew the doors off of its earnings on Thursday, and the stock rallied higher by 13.5% on Friday and regained the $3,000 price level. Amazon announced it is raising its Prime subscription prices for all 172 million subscribers. The company is also rumored to be looking at acquiring exercise machine brand Peloton (NASDAQ:PTON) which has seen its stock tank due to lower demand. Shares of Peloton were up 30% in after hours trading when the connection with Amazon was reported.
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NYSE:BABA fell by 1.01% during Friday’s trading session.
- AliBaba is preparing to report its earnings later this month.
- Amazon soars and lifts markets after blowout earnings.
UPDATE: BABA is down more than 5.7% to $115.30 in Monday's New York session after analysts at Citigroup think early investor Masayoshi Son's SoftBank Group is preparing to sell a large stake in the investment that made him rich. The company registered with the Securities & Exchange Commission on Friday to list 1 billion American Depository Shares in the US. As of Friday, the value of this stake represents 25% of the ecommerce giant and about $120 billion.
NYSE:BABA could not keep the momentum rolling on Friday, but still managed to record one of its stronger weeks in recent memory. Shares of AliBaba dipped by 1.01% and closed the trading week at $122.22. The broader markets fought back on Friday after the stunning selloff of Meta Platforms (NASDAQ:FB) tanked global markets on Thursday. The NASDAQ and S&P 500 were lifted on Friday by a strong earnings report from AliBaba rival Amazon (NASDAQ:AMZN), as the two indices gained 1.58% and 0.52% respectively. The Dow Jones was in the red on Friday as the blue-chip index saw a minimal loss of 21 basis points to close the week.
Stay up to speed with hot stocks' news!
While an exact date has yet to be announced, AliBaba is set to report its earnings later this month. It will be the company’s first December earnings report since the Chinese government implemented its series of regulatory crackdowns. All eyes will be on AliBaba’s projected growth under the new regulations. The stock has famously lost 54% of its value over the past year, but so far in 2022 it seems to have finally found a bottom. AliBaba’s earnings call later this month could dictate its new growth projections for the foreseeable future.
BABA forecast
AliBaba-rival Amazon blew the doors off of its earnings on Thursday, and the stock rallied higher by 13.5% on Friday and regained the $3,000 price level. Amazon announced it is raising its Prime subscription prices for all 172 million subscribers. The company is also rumored to be looking at acquiring exercise machine brand Peloton (NASDAQ:PTON) which has seen its stock tank due to lower demand. Shares of Peloton were up 30% in after hours trading when the connection with Amazon was reported.
Like this article? Help us with some feedback by answering this survey:
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