Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Alibaba Group Holding Ltd (BABA)’s Jack Ma Is Expecting 11/11 To Hype Internationally In Just 4 Years

Alibaba Group Holding Ltd (NYSE:BABA) has found the leprechaun’s pot of gold in China. Singles’ Day, which is a variant of Valentine’s Day in the US, got the e-commerce juggernaut’s transactions amounting to 57.1 billion yuan ($9.3 billion) in just 24 hours, according to Bloomberg. This paves the road to a promising future for Alibaba Group Holding Ltd (NYSE:BABA), whose price of approximately $114.50 is up almost 22% in a little less than 2 months.

Alibaba, is BABA a good stock to buy, Donald Luskin, America,

“There’s really some eye-popping numbers here. Yesterday, Alibaba’s Singles’ Day promotion chocked up 57 billion yuan worth of goods sold. That is about $9 billion. They were able to surpass last year’s record of 36 billion yuan in only about 14 hours,” said Ed Lococo.

The report further cited Jack Ma as saying that in about 4 years, the date of November 11 will be promoted by the largest retailers worldwide.  Alibaba Group Holding Ltd (NYSE:BABA) has a lot to benefit from such shopping bonanzas and if this holiday reaches global dimensions, there will be even more upside to the business. Brands like Calvin Klein, Inc. and Tesla Motors Inc (NASDAQ:TSLA) were also encouraged to work the hype in their favor. However, major performers on Alibaba Group Holding Ltd (NYSE:BABA)’s platform were consumer electronics, especially mobile devices, which happen to be in the top 10 most sold phones.

“Some of the big winners were definitely companies that are involved in electronics and smartphones. So, for example Xiaomi Corp., which is now China’s largest smartphone vendor and also number 3 in the world during third quarter. Yesterday they announced that they sold 720,000 phones valued at 1 billion yuan in just 12 hours,” informed Ed Lococo.

Alibaba Group Holding Ltd (NYSE:BABA) already more capacity in terms of merchandise volume than, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY) have together, and it’s speculated that things will get even more serious as the business steps out of its homeland borders.

Disclosure: none

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!