BABA Jun 2024 75.000 put
| Previous close | 0.8300 |
| Open | 1.5700 |
| Bid | 1.5000 |
| Ask | 1.7200 |
| Strike | 75.00 |
| Expiry date | 2024-06-21 |
| Day's range | 1.2300 - 2.2000 |
| Contract range | N/A |
| Volume | |
| Open interest | 35.32k |
- Yahoo Finance Video
Alibaba is in the eye of a geopolitical storm: Analyst
Shares of Alibaba (BABA) are slipping after the company posted an 86% loss in its fourth quarter profits year-over-year. CFRA Research Senior Equity Analyst Angelo Zino joins Market Domination Overtime to discuss Alibaba's earnings and what it may signal about the state of the consumer. Alibaba saw weaknesses in its e-commerce and cloud businesses, which make up more than 50% of its revenue, Zino says. He adds that slow e-commerce growth is "disappointing," while the hit to the cloud business is concerning as it "is a critical part of the valuation story." "There are clearly geopolitical pressures out there," he adds, saying that Alibaba is "absolutely in the eye of the storm." He points to the company's inability to access advanced chips, which will delay efforts to create large language models that could drive revenue as its US counterparts march ahead. Zino says Alibaba's weak earnings demonstrate "that the consumer is trading down." While the company is seeing improvement from Chinese consumers, Zino is unsure whether that momentum will be sustainable through the end of the year. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
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