No Need to Wait for a Crash to Buy. This Top Stock is already Dropping More than 40%.

  No Need to Wait for a Crash to Buy. This Top Stock is already Dropping More than 40%.   While the market is volatile, it is still trading close to all-time highs. Many of last year's biggest stars have already collapsed. Many of last year's biggest stars have already collapsed. One of them is the shares of Alibaba Group Holding (NYSE:BABA). It has lost at least 40% since hitting all-time highs. In fact, it would be useful to take a closer look.

Alibaba 9988 (HKG) HK$165,20 +3,70 (+%2,29)

Last Thursday should have been a big day for China's online retailers. Singles Day! Alibaba created the annual shopping holiday called Singles Day, on November 11, due to the date 11/11, leading to its widespread adoption by smaller e-retailers in general. But this year, Singles' Day has been different.

No Need to Wait for a Crash to Buy. This Top Stock is already Dropping More than 40%.

The Chinese government's push for "common prosperity" has completely transformed this celebration. As a result, Alibaba entered Singles' Day trading 49% below its all-time high reached late last year. Investors have turned away from China's growth stocks due to this government pressure, but the real bargain for Singles' Day may be Alibaba's stocks. Even as Alibaba grapples with the COVID-19 crisis and the country's shared welfare goals, it still retains its appeal, with trailing revenue rising 40%. Alibaba has proven to be one of the stocks still growing. Shares are trading at all-time highs of 49%. No need to wait for the market crash to get bargains because they are out now.  

Source: The Motley Fool

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