Couldn't agree more. Loading the boat on this dip in this, VIPS and CTRIP.
It became known that Chanos and a number of other big hitters were short baba and long JD. This whole down move is a giant run on them to stop them out. at these levels, anyone with a stop loss is gone.
Going up from here.
I don't see how. AMZN has a $338 billion valuation on $113 billion in revenue. JD has a $28 billion valuation on $30 billion of revenue. Mr. market can only play these games for so long. This is a fast growing company in the number one growth market in the world.
You DON'T DO THAT in this situation. Credibility is the number one issue and this just killed whatever sense of trust they had built back since filing and stating in March. Back to square one. Better be one hell of a conference call.
You can't come out in March and say, "this is the deal..." then come back in June and cut the already cut forecast by another 15%. New CEO off to a HORRIBLE start.
Analysts did their pumping this morning and the funds did the dumping all day. Look at that volume. In the end, there are a number of ways to play the China growth story. You don't need to be invested in a company with an accounting fraud investigation going.
Alibaba management needs to do what's necessary to gain the trust of the investing public by submitting to a transparent, independent audit and put all of the rumor mongering to bed, once and for all.
Currently, the stock is in an impossible situation, will continue to fight perception and languish far below its true value. If they do this audit and come out clean, it doubles.
As a shareholder, I'm demanding it. They've ignored the situation for too long and any further delay, in my opinion, is an admission of guilt. All the business gains in the world won't do for this stock price what one thorough, independent audit could do overnight. What are they waiting for?
Lol. Who would short a company that lies about their numbers? How will they ever miss earnings?
Shorts are going to get blown out by these numbers. This is the best, big cap growth company in the world. Makes way, way, way more money than AMZN, has a much, much, much better valuation and operates in a much, much, much bigger market.
Annnnnd, we're up .58 cents. On a day with not only amazon but the dollar weakening against the yuan. I guess we're heading to for a PE ratio under 10, with 30 percent growth.