$BABA-W(09988.HK)
I know that any Alibaba retail holders are worried about Alibaba’s HKD80 billion share placement news..… and today’s sharp -8.70% drop to HKD112.30 makes it even harder to stomach.
My current cost is HKD113.27, slight below my average price. I am not worry much as I look at the bigger picture for this company. I may look into buying more Alibaba if it goes lower.
Since May 2022, my cumulative P/L is still +HKD12,261.87.
Yes, the placement news spooked the market and the sentiment is shaky. But this is short-term noise against solid long-term fundamentals. Alibaba is not an ordinary company.
I am not panicking .I am staying the course. The market overreacts and conviction pays off.
Hold tight, BABA dragon 🐉💪
