After its $25 billion IPO and an epic first two months of trading, Alibaba Group Holding Ltd (NYSE: BABA) has finally come down to earth following sub-par third-quarter earnings. The selling has sent the stock back to where the opening price after the IPO in September.
Alibaba opened at $92.70 September 19, 2014, and hit $120 by the second week of November – a 27 percent gain in under two months. Since hitting the high, the stock has experienced a steady decline down to $100 before opening even lower after the disappointing earnings report.
Despite the Chinese Internet giant increasing revenue 40 percent to $4.22 billion, analysts were expecting $4.45 billion. Earnings per share came in at $0.81, which was above estimates of $0.75. Missing revenue on the first earnings report as a public company is not exactly a confidence booster; however, Alibaba remains an e-commerce giant in an area of the world where its services are in ...
/www.benzinga.com/etfs/sector-etfs/15/01/5193005/how-alibabas-earnings-are-hitting-these-3-etfs alt=How Alibaba's Earnings Are Hitting These 3 ETFs>Full story available on Benzinga.com
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