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Alibaba Stock Is Beaten Down Now, but It Could 10X
BABABABA(BABA) fool.com·2024-05-18 06:40

China's e-commerce and cloud leader is a potential multibagger at these levels.When Alibaba Group (BABA 2.12%) went public at $68 per share on Sept. 18, 2014, it raised $25 billion and became the largest initial public offering (IPO) in U.S. history. At the time, the bulls were impressed by the Chinese e-commerce and cloud leader's rapid growth rates.On Oct. 27, 2020, Alibaba's stock reached its record high of $312.87. That was a near five-bagger gain for its initial investors, and many analysts were convin ...