(VIANEWS) – Ark Invest’s Cathie Wood continued to sell shares of AliBaba stock on Thursday, after having sold $1.55million in stock. Wood owned several Chinese ADRs in multiple Ark ETFs. However, she has been trimming her positions over recent weeks due to the Chinese government’s ongoing crackdown. Wood also sold large shares in Tencent and JD.com (NASDAQ.JD). Masayashi Son, Softbank CEO, also stated that the VIsion Fund will stop investing in Chinese companies for the near future until current enthusiasm has subsided.
This was a forgettable year for eCommerce company AliBaba. AliBaba shares fell another 1.59% on Friday to $188.62 at the close of trading. BABA shares are currently trading below the 50-day and 200 day moving averages and they will continue to trade lower due to the steep decline in the stock price.
Shares of Alibaba (BABA) dropped 7.89% to $173.73 at 17:49 EST on Tuesday, after three consecutive sessions in a row of losses. NYSE Composite is sliding 0.03% to $16,871.12, after three successive sessions in a row of losses. This seems, as yet, a somewhat down trend trading session today.
Alibaba’s last close was $188.62, 40.93% under its 52-week high of $319.32.
Today’s last reported volume for Alibaba is 38570602 which is 133.33% above its average volume of 16529846.
The company’s growth estimates for the present quarter is 1.8% and a drop 17.6% for the next.
Year-on-year quarterly revenue growth grew by 63.9%, now sitting on 717.29B for the twelve trailing months.
Alibaba’s last week, last month’s, and last quarter’s current volatility was a negative 4.80%, a negative 1.13%, and a positive 1.46%, respectively.
Alibaba’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 4.80% (last week), 2.17% (last month), and 1.46% (last quarter), respectively.
Stock Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions,
Alibaba’s stock is considered to be overbought (>=80).
Alibaba’s Stock Yearly Top and Bottom Value
Alibaba’s stock is valued at $173.73 at 17:49 EST, under its 52-week low of $179.67.
Alibaba’s Moving Average
Alibaba’s worth is way below its 50-day moving average of $205.32 and way under its 200-day moving average of $225.50.
News about Alibaba (BABA) today
Alibaba launches new NFT marketplace: what you need to know. According to today’s article on Benzinga, “Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA) has launched a newmarketplace for non fungible tokens, or NFTs, where trademark holders can sell tokenized licenses to their intellectual property, the South China Morning Post reported.”, “Price Action: Alibaba Group shares closed 3.1% lower in Monday’s trading at $182.71.”
More news about Alibaba (BABA).