I believe millions of investors worldwide are watching this stock now. What's going to happen next ?
From chart, I think we may still have a leg down before we see recovery. This is good news for long term investors who buy into Alibaba growth story.
How would Jack Ma , the genius behind this Chinese conglomerate strikes back ? I am confident he will tow the lines of the government if he wants to continue milking money from China and there are tons of money to be made in China alone. He will lie low for a while but I don't think it would be long , haha.
Let's see what chain of events will transpire thereafter.
Meanwhile, I am doing nothing but awaiting for the price to come lower.
Despite its fantastic growth story, the China regulators ( I thought the last was near, but I was wrong)seems to not have pull the brake on imposing more restrictions and checks on the sector. Yesterday, we witnessed another downfall of Chinese tech stocks.