$Alibaba(BABA)$ Personally，I f

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$Alibaba(BABA)$ Personally，I found the buyback news surprising. Management bought back around 3% of the shares in a single quarter. The plan was to buy back an average of 3% a year. So does that mean they won’t be buying any more shares in 2024? Clearly that seems unlikely. If they are increasing the amount to more than 3% a year, then it is logical to assume they feel the bottom is at these levels.

So based on the technicals, I choose to read the news as very positive . A large cap value play forming a clear bottoming pattern with management dramatically accelerating its large buyback plan is a win overall. BABA is an opportunity that doesn't come around too often. Time will tell, but with such a large buyback being increased at depressed prices, time is on our side.

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