Chinese e-commerce giant, $Alibaba(BABA)$has posted earnings that beat Wall Street's expectations.
A profit per share of 22 cents on sales of $30.7 billion in the three months ended in June, beating analysts' prediction of 20 cents on sales of $30.3 billion. Revenue has fallen as compared year-on-year quarter. Perhaps the guidance is not so negative that gave the boost to the share price in pre-market. With the major lockdowns removed from the major city like Shanghai, the recovery signs are there.
The delisting of Baba was added into the SEC books. Read that if their audit papers can't be inspected before the spring of 2024, the risk of delisting Alibaba is high. However, Baba said it would comply with laws and regulations.
The risk is too high to buy in currently given such uncertainties, aggravated by Pelosi's visit to Taiwan. At the point of writing, Chinese missiles are flying into Taiwan Strait.. Defense system activated..
source: Dow Jones Institutional News, Guardian.com
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