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My investment in Alibaba (9988.HK)
27 Apr 2021 (362 views)

I bought 6,000 shares of Alibaba (9988.HK) at an average price of HK $242 over 4 months towards the end of 2020.

I sold off 3,000 shares at $254 on 25 Feb 2021 and another 3,000 shares at $232 on 15 April.  

The price that I sold the stock is about the same as my cost price. I broke even.

I decided to sell the remaining stock after the China authority slapped a large fine of $2.8 billion USD on Alibaba for breaching the anti-monopoly law. Although the analysts said that the fine was lower than expected, I felt that it was too high. 

Furthermore, the future profit of Alibaba would be less promising, due to the curtailment of their past business practice which allowed them to grow their business.

The current stock price for Alibaba is $226, which is lower than the price of $226 that I sold off the last 3,000 shares.

I will look at Alibaba stock again in 3 to 6 months time.

Tan Kin Lian 

 


My investment in Alibaba (9988.HK)
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I bought 6,000 shares of Alibaba (9988.HK) at an average price of HK $242 over 4 months towards the end of 2020.

I sold off 3,000 shares at $254 on 25 Feb 2021 and another 3,000 shares at $232 on 15 April.  

The price that I sold the stock is about the same as my cost price. I broke even.

I decided to sell the remaining stock after the China authority slapped a large fine of $2.8 billion USD on Alibaba for breaching the anti-monopoly law. Although the analysts said that the fine was lower than expected, I felt that it was too high. 

Furthermore, the future profit of Alibaba would be less promising, due to the curtailment of their past business practice which allowed them to grow their business.

The current stock price for Alibaba is $226, which is lower than the price of $226 that I sold off the last 3,000 shares.

I will look at Alibaba stock again in 3 to 6 months time.

Tan Kin Lian