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Alibaba flies to new all-time high on eye-popping guidance

Published 06/08/2017, 10:16 AM
© Reuters.  Alibaba flies to new all-time high on eye-popping guidance
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  • A long position in Alibaba (BABA +10.4%) into the company's investor day is paying off in a big way today.
  • At the event, CEO Daniel Zhang said gross merchandise volume could reach $1T by 2020 from $547B in 2016, while CFO Maggie Wu called out the eye-popping 45% to 49% revenue growth for 2018 as acquisitions factor in.
  • "The company will continue building its ecosystem based on data technology with core businesses supported by payment, logistics, data management platform and cloud," writes Jefferies analysts Jessie Guo in a fresh update.
  • Shares of Alibaba traded as high as $142.85 before settling back to $138.41 at last check. Volume is already 2X normal activity in only 45 minutes of trading.
  • Previously: Alibaba forecasts monster revenue growth (June 8)
  • Previously: Yahoo (NASDAQ:YHOO) shares up 8.8% on Alibaba revenue guidance (June 8)
  • Now read: Alibaba: Topping Up For Project M


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