Alibaba Sells $14 Billion in One Day but Trades Below IPO Price
Singles Day, a Chinese holiday celebrating bachelors and bachelorettes, is biggest than Black Friday for Chinese ecommerce site, Alibaba (NYSE: BABA). It is a day largely centered on excessive shopping and can generate more than $14 billion in sales for the retailer.
For over a year its stock has been underperforming, largely due to investor nervousness over regulatory concerns and increasing competition. But can this yearly holiday and resulting sales boom alone help foster investor confidence, so much so its stock begins to climb?
This podcast was recorded on 11/11/2015.