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Bye Bye BABA - China's "Amazon" Plunges After Talking Down Numbers
BABA Shares stalled once again in their efforts to break back above the IPO price of $68. Following a Citi tech conference which reportedly saw Alibaba investor relations talking down their numbers, BABA has plunged over 6%.
- *ALIBABA WILL HAVE ‘TOUGH COMPS’ IN 3Q: CITI CONF
As Bloomberg reports, Alibaba faces tough comps this quartrr in other revenue category due to anniversarying of some items.
From BABA's Jane Penner, head of IR:
"given the stable trends in Chinese wage growth, job creation and household net assets, we believe that consumers still have the ability and willingness to spend. That said we are observing some negative impact on the magnitude of the spending; we believe this is more due to the psychology than the inability to spend; We are seeing lower average order value for example; we believe our Sept quarter GMV will be mid-single digits lower than our initial expectations."
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HAHA!
Ho Lee Fuk Wi Tu Lo Sum Ting Wong
Alibaba was always a mirage
They started at the wrong end of the market cycle and the China market makes it worse......
There's a good reason HK would not allow Ali Baba to list on its exchange.
but, but, but- only 60 days until "singles day" .shopping has just begun
Fucking pikers! They need to lose money for another 10 years to catch up to Amazon. Only assholes make a profit in the new world.
Testimony: how socialism in Venezuela has affected me
http://thesaker.is/testimony-how-socialism-in-venezuela-has-affected-me/
Cramer said to jump on this If it ever got back in the 80's...
Squid, I know you're asking yourself: "What if I had used the 'Song Parody Indicator"?
"Buy Me BABA" (July 6) Buy at ~$80 "BABA, I'm Gonna Sell You" (Aug 18) ~$75 Sell = Loss of 6%
But, if you then reversed to short @ $75: current gain of 17%
Rather middling 11% net return, not enough to entice big ZH players like you :)
I think Cramer accidentally misplaced the decimal one place during that call about buying in the 80s
China has already spent something like $250B to prop up the market and results are mediocre at best. How long can they keep spending like that before they start a fire sale on Treasuries it remains to be seen.
How many trillions has the Fed spent since March 18, 1988 when the PPT was formed? Everyone is so quiet on that.
Bigger and better quiets the normal critics, JO.
Good revenue stream to failing reporting projects does too.
Time to buy a really cheap dirtbike!
China Burning Man ... might happen soon.
Tough to light the Fire from meditation.
What a piece of crap investment. you would have to be an idiot to buy into this garbage!!
Plus, you can blind fold them with dental floss!
I think you mean brind fold them with dental fross, round eye.
pods
FYI, the Chinese have no problem with either 'R' or 'L', but the Japanese do - they have no need for 'L'.
Amazon must be worth every penny of its $240 billion market cap as Old Yeller says US economy is fine and US stocks are not overvalued
BABA, FB, TWTR, UBER are all modern day frauds which fraud-masters call "innovative technlogies" just so that our pension funds could buy that crap and count losses few years down the road.
This Scam could not even list in Hong Kong. It's Martian CEO had to take this story stock to Wall Street to make his billions.
Personally I don't begrudge Jack Ma his fortune, built in such a short time. It is positively Flag waving USA..USA.. etc. success in a foreign environment.
The Parasites I would dust.
OPEN SESAME!
Selling off the New Silk Road Division ?
Those god-damned commie accountants are tough.
Must be Havaad MBAs.
"If you didn't aell at top, your own damn fault." - Chairman Jack
Too bad for all those suckers that "got in" at the IPO.. errr post IPO offering. Wonder when the peddlers of this stock sold? Same shit they've been pulling since 1929.
The underwriters pocketed $127-$178 Million in fees from the get go.
Then they bought up 320 Million shares at the offering price of $68.00 and I'm pretty sure they were the ones selling their $68.00 shares to the chumps that bought this at $80-$120 making a tidy profit.
If you do the math, say the underwriters only sold 50 Million of the original 320 Million shares for an average price of $88, for a profit of $20 per share. That's an additional $1 Billion, large, profit to the Underwriters. No wonder the Wall Street Bankers wear expensive shoes.
Source, see page 310-311, if the link doesn't take you directly there.
http://edgar.secdatabase.com/1102/119312514347620/filing-main.htm#toc709...
These guys are learning Fedspeak at a phenominal rate.
(a dialect of Squidspeak, no wonder why.)
- Janet Yellen
:)
FILL HE GAP XING LING MOHA FOOKAR...Keboard w/ou abcdefghijklmonpqrs
A stock drops 2$ and everyone losses their minds
Money is an illusion
It could go to zero
Nothing changes
they just print more