Alibaba stock has dipped by 38% over the last month: here are the best places to trade it

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The Alibaba stock (BABA) has been on a downtrend since October 2021 and the bear trend seems to have accelerated over the last month.

The stock has been affected by a myriad of events including pressure by the US governments on Chinese companies operating in the USA. Alibaba has specifically been a target of investigation for its Cloud product which the US government is investigating for a data breach that would affect national security.

To help stock investors interested in investing in Alibaba stock, Invezz has created a brief article on what it is and where to buy it.

To find out more, please continue reading.

Where to trade Alibaba stock

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Firstrade

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What is Alibaba stock?

Alibaba stock is the stock of Alibaba Group Holding Limited and it trades on the Hong Kong Stock exchange under the symbol HKG: 9988. It also trades in the New York stock exchange under the symbol NYSE: BABA.

Alibaba Group Holding Limited, also known as Alibaba Group, is a multinational technology company that specializes in retail, internet, e-commerce, internet, and technology.

Alibaba runs the Alibaba.com eCommerce website.

Should I buy Alibaba stock (BABA) today?

If you want to buy a stock dip, then the Alibaba stock could be a good choice.

Nevertheless, there are still a number of factors that could result in a continuation of Alibaba stock dip; among them the pressure by the US on Chinese companies operating in the USA. Therefore, buying the stock could result in losses before the stock eventually resumes a bullish trend

Alibaba stock price prediction

With the prolonged bearish trend, most analysts believe the current bear market is likely to continue at least in the remaining part of the first quarter of 2022 with support probably at $70.

$BABA stock social media coverage

Alibaba at its peak was valued at over $850 billion. It’s currently worth under $250 billion. Stock’s down 70% from peak pic.twitter.com/afdLJiZvYx

— David Ingles (@DavidInglesTV) March 11, 2022

Tencent, Alibaba have erased $1 trillion in value over last year @WorldNews24x7in https://t.co/o2TqYUS2Nl

— World News 24×7 (@WorldNews24x7in) March 15, 2022

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