"The stock was up initially until Jack Ma made some cautionary comments about growth expectations in China and the impact on Alibaba," explained Victor Anthony, managing director and senior internet media analyst at Axiom Capital Management.
Alibaba (BABA) reported blockbuster sales for Singles' Day, as Chinese consumers kept spending despite what appears to be a slowing economy. Alibaba already exceeded last year's 24-hour total of $9.3 billion in about half the time. Yahoo (YHOO), parent
Alibaba Group reaped $14.3 billion in sales during Singles' Day, a 54 percent increase from last year's tally of $9.3 billion. The most significant number..
(Lehar Maan for Reuters) — Ecommerce giant Alibaba Group Holding Ltd said it generated more than $3.9 billion in gross merchandise volume (GMV) within the first hour of its China's Singles' Day sale.
(Lehar Maan for Reuters) — Ecommerce giant Alibaba Group Holding Ltd said it generated more than $3.9 billion in gross merchandise volume (GMV) within the first hour of its China's Singles' Day sale.