Where to buy the Alibaba stock (BABA) dip after news of the US examining its cloud unit
- Alibaba stock (BABA) is down −2.98 (2.26%) today.
- BABA stock is currently trading at $128.60.
- Here is a brief guide on where to buy Alibaba stock.
The Alibaba stock (BABA) was bouncing back from the lows that we saw towards the end of 2021 but it has dipped again after news of the US reviewing the Alibaba Cloud unit for national security risks.
The US government intends to focus on how Alibaba stores dada for US clients especially their intellectual property, personal information, and whether the Chinese government can access the stored information. The Trump administration had earlier raised concerns around data collection and the Biden administration seems to be coming to terms with the issue.
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To help stock investors interested in investing in Alibaba stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Alibaba stock?
Alibaba stock is the stock of Alibaba Group Holding Limited and it trades on the Hong Kong Stock exchange under the symbol HKG: 9988. It also trades in the New York stock exchange under the symbol NYSE: BABA.
Alibaba Group Holding Limited, also known as Alibaba Group, is a multinational technology company that specializes in retail, internet, e-commerce, internet, and technology.
Alibaba runs the Alibaba.com eCommerce website.
Should I buy Alibaba stock today?
If you are looking for an eCommerce stock that is on the decline, then Alibaba could a good choice.
Nevertheless, it is uncertain if the stock shall resume a bullish stance any time soon following the ongoing review of its cloud.
Alibaba stock price prediction
It is not clear how far the dip shall go especially if the US finds that the Chinese government can access data from the Alibaba cloud. However, there are speculations that if the cloud is cleared, the stock shall resume its bullish rally and possibly trade above $130 before the end of January.