I hope you read my last Blog entry on February 11, 2015 as I told you to SELL Alibaba (BABA). This stock was starting to smell like a rotten fish and I dumped it from my portfolio and advised here in my Blog that you do the same. For those of you taking my advise I am sure you are thanking me now. For those of you that did not, you are probably cursing yourself for not listening.
Alibaba (BABA) found it self in trouble with the China's State Administration for Industry and Commerce, or SAIC. Then owner Jack Ma announces a multimillion dollar investment to support Jackie Chan for a new movie. These suspicious things were quickly noticed by the United States and receiving a series of complaints and noted lawsuits regarding Alibaba's website. The SEC announced an investigation into Alibaba and the stock tumbled 4.4% I called this one and I got out in time. I hope you did too.
https://news.yahoo.com/alibaba-says-received-u-sec-request-information-220205580--finance.html?bcmt=comments-postbox
Gus S.
Disclaimer:
Make sure to review any information found on this blog site with your personal financial advisor before making any decisions. I am providing general information and not financial advise. I am not a licensed stockbroker or financial advisor.
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