Shares & Derivatives
Alibaba Rebounded Sharply After 30% Crash- Good Buy Or Time To Cut Losses?
By Investment Income for Life  •  March 16, 2022
Alibaba (9988) crashed from around HK$100 per share to HK$71 per share in less than a week. This is an incredulous plunge in value of almost 30%. US Sanctions on China over Ukraine interference, China regulatory on Tech firms as well as potential delisting of China businesses on US Stock market culminated in the spectacular downfall of China tech stocks and Alibaba was knocked out. The speed of investors bailing out of China equities reminded me of the days in 2008 Global Financial Crisis. Thankfully, Alibaba and most tech stocks rebounded today (16th March 2022) by over 20% after the irrational selling the day before. It closed at HK$90,70 as at 16th March 2022. I have already exited the bulk of my Alibaba investments on the 1st week of March 2022 and currently still vested in 100 shares of Alibaba 9988. I am also fortunate to have stopped additional investments into Alibaba from my Tiger Brokers portfolio since 2nd December 2021 as I decided to mitigate the
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By Investment Income for Life
I am an Accountant by training and is currently working in a global MNC in the Supply Chain industry. During my free time, I enjoy reading up on topics such as stock investing, insurance planning and property investment. Since 2012, I have started penning down my thoughts on certain financial matters while striving to achieve financial independence.
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