How Alibaba's (BABA) Pullback Conceals a Statistical Trading Edge

Alibaba (BABA) has seen significant growth this year due to its focus on artificial intelligence (AI) and cloud services. The company is heavily investing in AI infrastructure and developing large language models to become a leading AI services provider in China. This strategic shift has driven strong growth in its cloud and machine intelligence business units, boosting overall financial performance.

The US cut interest rates as expected, the Hang Seng Index opened up 169 points, HSBC rose over 2%, and JD.com Industrial fell nearly 8% | Hong Kong stock market opens

The Federal Reserve announced a 0.25% interest rate cut and will begin purchasing $40 billion in government bonds, leading to an increase in the three major U.S. stock indices. Oracle's stock price plummeted over 11% after announcing its earnings. The Hang Seng Index opened 169 points higher, with HSBC rising 2.4%. JD.com Industrial debuted on its first trading day with an oversubscription of 59.5 times, but fell 7.8% at the opening. The antibody drug from Shanghai Pharmaceuticals has been approved by the FDA to conduct clinical trials in the U.S

The Hang Seng Index opened up 0.66%, and the Hang Seng Tech Index rose 0.55%. HSBC HOLDINGS and POP MART increased by over 2%, while Alibaba, NetEase, Bilibili, and Hua Hong Semiconductor rose by over 1%

Alibaba Group (NYSE:BABA) Shares Up 1.9% - Time to Buy?

Alibaba Group's stock rose 1.9% during mid-day trading, with analysts maintaining a "Moderate Buy" rating and a consensus target price of $194.00. The stock's market cap is $379.10 billion, and hedge funds own 13.47% of it. Despite positive ratings, top analysts suggest better investment options than Alibaba.

Meta is developing the latest closed-source AI model, reportedly using multiple third-party models including Alibaba's Qianwen for training

Meta is developing a new artificial intelligence model codenamed "Avocado," which is expected to launch a closed-source version in the spring of next year. The model is trained using multiple third-party models, including Alibaba Qianwen. As a result of this news, Meta's stock price fell by 1%, while Alibaba's ADR stock price rose by 1.8%