BABA - almost one year in

It has been almost a full year since the Alibaba (BABA) IPO ($68) of last Sept', since then the stock has broadly struggled after an initial high of $119.45 (Nov'10th). The daily close of -3.2% @ $62.59, is already close to the flash-print low of $58 when the sp'500 was trading @ 1867. Outlook is broadly bearish.


BABA, daily

Summary

Little to add.

BABA remains a curious stock to watch... but then its not really a stock in the purest sense.. as its part of a holding company based in the Caymans.

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To be clear, I sure won't short this company, but I sure won't be long either. BABA remains one to watch for entertainment reasons.... much like AMZN or even NFLX.

Worse case.. if renewed market weakness to the mid/low sp'1800s in October... BABA would likely unravel to the psy' level of $50.