Chart wise, bullish mode!
Likely to rise up to test 87.69.
A nice breakout smoothly plus high volume that may likely push the price higher towards 96.68 than 101.00.
Not a call to buy or sell!
Please do your own due diligence!
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Stock Buyback: During Q4, Alibaba repurchased 65 million ADS worth $4.8 billion in both the U.S. and Hong Kong markets under the share repurchase program.
Alibaba said it is preparing for its primary listing in Hong Kong and expects to complete this conversion by the end of August 2024.
BABA stock has lost over 4% in the last 12 months. Investors can gain exposure to the stock via the Invesco Golden Dragon China ETF (NASDAQ:PGJ) and the ProShares Online Retail ETF (NYSE:ONLN).
Net income plunged 86% Y/Y to $453 million due to net loss from its investments in publicly traded companies during the quarter. Adjusted net income declined 11% Y/Y to $3.38 billion.