Why Shares Of Alibaba Dived To Yearly Lows Today?
- Date: 15-May-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Why Shares Of Alibaba Dived To Yearly Lows Today?
Alibaba Video 13.05.21.
Shares of Alibaba moved towards the $210 level after the company released its quarterly report. Alibaba reported revenue of $28.6 billion, an increase of 64% on a year-over-year basis.
It should be noted that the first quarter of 2020 was very weak for Alibaba due to the negative impact of the pandemic, but the year-over-year growth is still impressive. The company expects to grow its revenue by about 30% in the fiscal year 2022.
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