Alibaba Remains a Top Internet Mega-Cap Pick, Says Raymond James

The suspension of Ant Group’s highly anticipated initial public offering took center stage in all Alibaba (BABA) related news last week. The Chinese e-commerce giant owns roughly one-third of the fintech company, which was expected to go public last Thursday. But things didn’t go as planned, as the Chinese regulators halted the $34.5 billion public debut – the largest IPO on record.While the IPO is expected to get the go ahead eventually, the unfolding drama made for an interesting backdrop to the release of Alibaba’s quarterly numbers.F2Q revenue increased by 30% year-over-year to 155 billion renminbi ($22.8 billion) and came …read more

Source:: Yahoo Finance


Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.