Does Recent Massive Purchase Of Alibaba Stock By Insiders Suggest Strong Earnings Ahead?
The e-commerce giant has seen its stock struggle in recent times, but do huge recent stock grabs by their founders suggest something is afoot?
Chinese e-commerce platform Alibaba Group Holding Limited (BABA) is one of the largest in its field in the world. Similar to Amazon, it boasts more than 300,000 inquiries per day. Unfortunately, it’s had a rough past year, with its stock falling about 33% over the past 12 months. However, recent massive purchases by some of their top CEOs on the eve of the 2023 Q4 earnings suggest that possibly the company is about to unleash some good news.
Founded in 1999, Alibaba went public on the New York Stock Exchange in 2014. Although regular rocky Chinese-American geo-political relations.have impacted the stock’s performance, it remains a successful and prominent business that attracts the attention of many investors. Their e-commerce dealins are enhanced by fitech, entertainment and other ventures, much like Amazon.
The annual revenue for Alibaba is breathtaking, having earned $109.48 billion, $134.56 billion and $126.49 billion annually from 2021–2023. The company has a market cap of $174 billion. However, the stock…
