Yes, the Alibaba Group Holding Ltd (NYSE: BABA) stock price is still down 16.6% year to date, but the company has just received a new $4 billion catalyst that should drive BABA stock higher in 2016.
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Who is Alibaba's New President? Alibaba Group Holding Ltd. (NYSE: BABA) announced that former Goldman Sachs (NYSE: GS) executive J. Michael Evans will be taking over as the company's president.
Company officials announced that Evans will focus on Alibaba's global expansion strategy.
The Alibaba Group Holding Ltd. (NYSE: BABA) share price traded up slightly this morning after the company announced it will be launching its own video-streaming service in China. BABA shares climbed to $87.17 shortly after the opening bell.
The service will be known as Tmall Box Office or TBO. According to Reuters, it will offer a mix of in-house and third-party content, similar to Netflix Inc. (Nasdaq: NFLX).
Alibaba Group Holding Ltd. (NYSE: BABA) stock is up 62% since its IPO and the company has continually shown strong growth in revenue, profits, and users.
But there is still one major risk when it comes to investing in Alibaba: its unorthodox corporate structure.
Retail investors aren't the only ones snatching up shares of Alibaba Group Holding Ltd. (NYSE: BABA) stock.
In Q3, Alibaba was the most purchased new stock among hedge funds. Now, institutional investors hold more than 227 million BABA shares.
Alibaba stock was up as much as 3.5% to $119.07 Wednesday, one day after the biggest shopping day in history.
Nov. 11 was "Singles' Day" in China, and more than $9.3 billion was spent over Alibaba Group Holding Ltd.'s (NYSE: BABA) network of sites. In just 24 hours, Alibaba processed more than 278 million orders.
That's more than was spent in the entire U.S. last Thanksgiving, Black Friday, and Cyber Monday combined.
It's Singles' Day in China and customers are celebrating early - which is huge for Alibaba stock.
In fact, more than $1 billion was spent over Alibaba Group Holding Ltd.'s (NYSE: BABA) network of sites during the first 17 minutes of the day.
To Americans the holiday means nothing. But to those investing in Alibaba stock, it's the biggest day of the year.
When Gannett Newspapers posted me to China in 1996, the Pudong area of Shanghai was just beginning its transformation from swampy farmland and ramshackle wharves into a thriving financial district. Today it's one of the world's key financial centers, home to more than 5 million people, one of the world's tallest buildings, and an international airport.
When Apple shopped for a site for its first Shanghai Apple store, it chose a spot in Pudong.
The Pudong "experiment" has done so well, in fact, that Pudong has emerged as one of China's real financial anchors. Indeed, The Wall Street Journal recently wrote that "today, as worries of a China property crash are back in force, there is an unlikely bright spot: Pudong."
Since 1990, the amount of surface-area construction that's taken place in Pudong is the equivalent of two Manhattans. And while Pudong was conceived as an international gateway, it's actually become a model of how development should take place, as China's economy shifts from one focused on exports to one being driven by domestic spending.
The Alibaba Group Holding Ltd. (NYSE: BABA) stock price reached another all-time high of $103.80 today (Tuesday) after the company reported quarterly earnings.
Alibaba officials reported earnings per share (EPS) of $0.45, which matched consensus estimates. Revenue was $2.74 billion, which beat estimates of $2.64 billion. Revenue was up 54% from last year.
Alibaba Group Holding Ltd. (NYSE: BABA) stock closed Monday up 3.3% at $101.80, the final closing price before the firm's first earnings report as a public company comes out before Tuesday's bell. BABA reached an all-time high of $102.80 earlier Monday morning.
Alibaba officials will announce Q3 earnings before the bell on Tuesday, and analysts are predicting earnings per share (EPS) of $0.45.
Part of our investment "thesis" with Alibaba Group is that the e-commerce giant has designs on markets besides China.
And we got a solid sign of that early last week.
Last Monday, at the Wall Street Journal's 2014 Global Technology Conference, Alibaba Chairman Jack Ma said he hoped his payments company, Alipay.com, could link up with Apple and its new mobile-payment system, Apple Pay.
"I'm very interested in that," Ma told journalists during an interview at the event. "A good marriage needs both sides working hard. I respect Apple and I respect [Apple CEO] Tim [Cook] very, very much - from the heart. I hope we can do something together."
Just a few minutes later, Cook - who was in the audience and interviewed up on stage right after Ma - said he would like to see Apple collaborate with Alipay.
This was more than just an exchange of pleasantries between two top tech CEOs.
It tells us that a deal will likely get done. And it would be an important deal for both companies.
The Alibaba Group Holding Ltd. (NYSE: BABA) stock price crossed the $100 threshold for the first time today (Tuesday) after Chairman Jack Ma expressed interest in partnering with Apple Inc. (Nasdaq: AAPL) and its new Apple Pay service.
At today's high, BABA is up 48% from its offer price of $68.
Last week, Bank of America Merrill Lynch, Brean Capital, and UBS all initiated coverage of Alibaba Group Holding Ltd. (NYSE: BABA) with "Buy" ratings and price targets of $112, $110, and $100 respectively.
And while those BABA stock price targets are bullish, they're all off the mark. Alibaba stock is headed much higher than that.
Alibaba Group Holding Ltd. (NYSE: BABA) and BABA stock have long been compared to Amazon.com Inc. (Nasdaq: AMZN) and eBay Inc. (Nasdaq: EBAY), but according to Money Morning's Executive Editor Bill Patalon, those comparisons are way off.
In fact, Patalon says Alibaba is actually more like Wal-Mart Stores Inc. (NYSE: WMT) the retail giant that has made its initial investors incredibly wealthy since it went public in 1969.
The Alibaba Group Holding Ltd. (NYSE: BABA) stock price has remained very stable since it made its debut on the New York Stock Exchange on Sept. 19, a good sign for those investing in BABA stock.
After its first day of trading - when it jumped out of the gates to a high of $99.70 - it has traded between a range of $92.95 and $86.04. This price stability is not common among stocks after following high-profile IPOs.