Alibaba Group Holding (BABA) shares are down around 4% today, trading at $82 and change after CNBC reported that short-selling specialist Jim Chanos pitched the Chinese e-commerce giant as a possible short at a conference Friday, citing accounting concerns. Alibaba Group Holding has a 12-month low of $57.20 and a 12-month high of $120.00. 31,196,984 shares of the company’s stock were exchanged.
Advertisement
Research firm Zacks has rated Alibaba Group Holding Limited (NYSE:BABA) and has ranked it at 3, indicating that for the short term the shares are a hold. The stock has a 50-day moving average of $69.97 and a 200 day moving average of $77.81.
Both insurance plans were jointly launched by Tmall, Alibaba’s financial service affiliate Ant Financial and insurance companies including People’s Insurance Company of China (PICC)and Ping An Insurance. The shares have received a hold rating based on the suggestion from 3 analysts in latest recommendations. During the same quarter previous year, the company earned $0.45 earnings per share. Alibaba Group Holding’s quarterly revenue was up 32.0% on a year-over-year basis. Equities research analysts expect that Alibaba Group Holding will post $16.89 earnings per share for the current fiscal year.
As the competition between the two e-commerce companies heats up, the two are aggressively promoting their online platforms. In addition to its three China retail marketplaces, the Company operates Alibaba.com, Chinas global online wholesale marketplace, 1688.com, its China wholesale marketplace, and AliExpress, its global consumer marketplace, as well as provides cloud computing services.
Advertisement
A pedestrian walks past advertisements for the Tmall 11.11 online shopping festival on the Singles Day at a subway station in Shanghai, China, OCt 29, 2015.
