Dark pool buying was detected in BABA stock on January 13, 2020.
The dark pool activity looks like buying for the most part because of how BABA stock continued to trend higher following the prints.
On January 8, 2020, Reuters reported that Alibaba (BABA) is undercutting Amazon.com (AMZN) in Europe by offering lower fees for sellers, Reuters’ Sonya Dowsett and Sophie Yu report, citing six sources with direct knowledge of the matter. The sources say the move by Alibaba has had mixed results. Source: https://www.reuters.com/article/us-alibaba-expansion-europe-focus/alibaba-undercuts-amazon-in-europe-to-woo-wary-brands-idUSKBN1Z7045
On January 7, 2020, TH Data Capital analyst Tian Hou raised her price target for Alibaba Group Holding to $250 from $220 and maintains a Buy rating on the shares. Based on data and calculations, the analyst believes Alibaba’s fiscal Q3 revenue is likely to be “much higher” than the consensus estimate of RMB159.5B. The company’s total revenue grew faster than expectations driven by core commerce, Hou tells investors in a pre-earnings research note.
On January 6, 2020, Benchmark analysts named their Best Ideas for the first half of 2020 which included Alibaba (BABA) stock.
On January 2, 2020, China’s competition regulator is looking to expand the country’s antitrust law to internet companies, as players like Alibaba (BABA), Tencent (TCEHY) and Baidu (BIDU) expand their influence in the digital economy, The Nikkei’s Shunsuke Tabeta reports. The draft legislation would extend the definition of what constitutes a dominant position with potential to harm competition, adding companies’ ability to collect and process data to the criteria, as well as the scale of their internet operations and first-mover advantage. China has blocked most of the services provided by Google (GOOGL), Facebook (FB) and other foreign search and social media networks, while Amazon (AMZN) last year announced plans to leave the country’s ecommerce market. This move is to support China’s domestic corporations like BABA against foreign competitors like Amazon, Microsoft, Google, Facebook, and others.
On January 2, 2020, Reuters reported that Ant Financial, an affiliate of Alibaba, applied for a digital banking license in Singapore, Reuters’ Leng Cheng, Brenda Goh and Nikhil Kurian Nainan report. The Monetary Authority of Singapore has previously indicated that it will issue five such licenses in mid-2020. Source: https://www.reuters.com/article/us-ant-financial-digital-banking-singapo/chinas-ant-financial-applies-for-singapore-digital-banking-license-idUSKBN1Z10LS