Most Chinese stocks are down since 2021 started, and Alibaba is not an exception to the rule.
Alibaba has entered the grocery industry, and this drove overall margins down, so although the overall business is growing, it also comes with less and less profitability.
Alibaba is becoming an asset-heavy business, and I think that this trend is not going to stop.
Investors should reconsider if the Chinese market is indeed as strong as it is said to be.
I am currently neither bullish nor bearish at the stock, and, therefore, I rate Alibaba as a HOLD.
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