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Alibaba Group Holding Ltd (BABA) To Generate Record Single’s Day Sales On Growth Of Mobile Transactions

Alibaba Group Holding Ltd (NYSE:BABA) is without a doubt the king of online transactions partly because it is backed by one of the biggest market place back at home. CNBC’s Dan Nathan expects Alibaba’s Single Day Sales to hit record highs as the company continues to enjoy the benefits of being a monopoly in China.

Biggest IPOs in US History

Alibaba has maintained an impressive run, ever since it went public with Nathan arguing it is high time investors maintained a closer eye on the stock with a view of recouping some of the investments.

“What you really want this thing to do is settle a little bit. We know on November 11 its singles day. It is going to be their biggest day of their year. Last year in 2013 they did like $6 billion in gross market value Alibaba alone, “said Mr. Nathan

Singles Day sales is one of the biggest online shopping event in China having surpassed the U.S cyber Monday in terms of sales according to CNBC. Bloomberg reports that Alibaba Group Holding Ltd (NYSE:BABA) expects its sales during the shopping event to surge by 40% to highs of $8.2 billion driven by an increase in mobile transactions. A growth in mobile transactions is expected to strengthen Alibaba’s market dominance despite an increase in competition in the space.

The acceleration being experienced at Alibaba Group Holding Ltd (NYSE:BABA) has had its ripple effects with Yahoo being the biggest beneficiary of the ongoing rally in the market. Nathan argues that at one point, Yahoo! Inc. (NASDAQ:YHOO) will have to stand on its own.

“Yahoo has moved up nicely with it but to me at some point Yahoo is going to have to stand on its own. […]At this point Alibaba is a much better trading vehicle in my mind. I’d rather trade Alibaba and not deal with the mess of Yahoo core

Yahoo has continued to benefit from Alibaba momentum on the fact that its stake in the company are more valuable than its core business. Heading into the holiday shopping season, sales are expected to further bolster Alibaba Group Holding Ltd (NYSE:BABA)’s market dominance.

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