Wow!! Model 3 in two years? How many days make a year on Elon's watch? When was X supposed to be out? How many cars they were supposed to sell in 2015? Yeah, I know, by 2025 the only car company on planet Earth will be Tesla. He will miss anything and everything BUT no one will care and the stock will keep going up. It does not get any better than this.
I ditched my X reservation and purchased a 2015 Porsche Cayenne S with all the bells and whistles!!
Maybe people are thinking of lockup expiration. Yes, there will be a sell order on September 20th to sell 1.6B shares at "market"!! Other than that I can't comprehend BABA's behavior. Maybe now everything Chinese stinks and anything American is simply Greatness. One day Amazon will make so much money that no one can imagine; except that one day did not arrive in 20 years.
Difficult to keep faith on BABA at this point but will HOLD till it gets to ZERO.
And here are the reasons:
1. I am long
2. It is a Chinese company
3. Amazon does not have "E" so no one cares about P/E
4. BABA is super expensive at ~30% growth and ~20 P/E
5. And finally, any day now, we will see a news like this "China does not exist on planet Earth anymore"
I am sick. But the good thing is, further downside is only $66. Happy investing.
I don't know if BABA can/will go up anytime soon but it reminds me of BIDU. In 2009, BIDU was beaten down from 400 to sub 100 just because it was a "Chinese" company. Anyone would say, stay the hell out of anything Chinese. Today, BIDU stands at $1700; split adjusted 10-for-1 down the road. As for now, I am completely sick of BABA.