Textile News, Apparel News, RMG News, Fashion Trends
News & Analysis

Alibaba stock gains 16% in July

Shares of Alibaba (NYSE: BABA) rose last month as the company continued to make broad waves in Chinese stocks as signs of a recovery in the Chinese economy.

A call from China’s state-owned media also helped push Chinese stocks higher. S&P Global Market Intelligence data said that Alibaba, China’s largest e-commerce platform, finished up 16% in July.

Figure: Alibaba stock gains 16% last month, the gains came entirely at the beginning of the month.

The Chinese stock market jumped after a front-page editorial in a state-owned newspaper on 6 July, which seemed to drive retail investors to buy Chinese stock. The news raised the Shanghai Composite by 5.5% and Alibaba 7.3%. The tech giant followed suit on July 8 with a further 7% profit.

E-commerce shares in the U.S. have expanded this year, with investors tracking Alibaba, which has billions of dollars in profit and business earnings, based on a reasonable P/E ratio of just 30, based on expected earnings this year.

Later that month, the company raised plans to take Ant Financial to the public. Alibaba’s fintech subsidiary, which owns Alipay, could reap $30 billion on an IPO in Asia and valued at $200 billion.

And now, Alibaba will report quarterly earnings later this month. Analysts around the world are expecting a strong recovery as the Chinese economic data pushed the economy back from lockdown in the first quarter, and earnings reports from U.S. companies such as Apple and Tesla put Chinese consumer demand ahead of bullish signals in the Alibaba quarter.

Analysts expect Alibaba’s revenue to jump 45.8% to $21.1 billion this quarter, from $1.77 per share to $1.97. Considering the broader momentum of e-commerce stocks, a strong report could add even more impetus to the stock.


If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

Related posts

Alternative marketing, a great way to gain export (Part-1)

Textile Today

Alibaba aiding Bangladeshi manufacturers to grow their business globally

Textile Today

How can you grow your business with duty-free facility in Chinese market through Alibaba?

Textile Today

Latest Publications

View All