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:
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD holds above 1.0400 in quiet trading
EUR/USD trades in positive territory above 1.0400 in the American session on Friday. The absence of fundamental drivers and thin trading conditions on the holiday-shortened week make it difficult for the pair to gather directional momentum.
GBP/USD recovers above 1.2550 following earlier decline
GBP/USD regains its traction and trades above 1.2550 after declining toward 1.2500 earlier in the day. Nevertheless, the cautious market mood limits the pair's upside as trading volumes remain low following the Christmas break.
Gold declines below $2,620, erases weekly gains
Gold edges lower in the second half of the day and trades below $2,620, looking to end the week marginally lower. Although the cautious market mood helps XAU/USD hold its ground, growing expectations for a less-dovish Fed policy outlook caps the pair's upside.
Bitcoin misses Santa rally even as on-chain metrics show signs of price recovery
Bitcoin (BTC) price hovers around $97,000 on Friday, erasing most of the gains from earlier this week, as the largest cryptocurrency missed the so-called Santa Claus rally, the increase in prices prior to and immediately following Christmas Day.
2025 outlook: What is next for developed economies and currencies?
As the door closes in 2024, and while the year feels like it has passed in the blink of an eye, a lot has happened. If I had to summarise it all in four words, it would be: ‘a year of surprises’.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.