Alibaba stock extends gains as it tops WallStreetBets mentions
Oct. 07, 2021 1:24 PM ETAlibaba Group Holding Limited (BABA)By: Kim Khan, SA News Editor71 Comments
- Alibaba (NYSE:BABA) +8.8% is battling back off lows last seen at the start of 2019.
- The stock is looking to make it three up days in a row for the first time in a month after a strong session in Hong Kong for China tech companies overall.
- BABA is the most mentioned ticker on the WallStreetBets subreddit today, with more than 150 mentions, according to data from Quiver Quantitative.
- The stock had seen a 20% bear correction from early September highs before it started to gain some ground on Tuesday.
- Still, it saw only a one-day dip into oversold territory, with the relative strength index moving below 30 on September 24.
- SA Contributor Oleh Kombaiev argues this morning that Alibaba (BABA) is a bubble inside out.