A Trade Emerges in Alibaba Stock as Berkshire’s Munger Reportedly Buys

Alibaba  (BABA) – Get Alibaba Group Holding Ltd. Report stock has been a poor investment for more than a year now.

Shares peaked in October 2020 just shy of $320 and fell more than 65% to last month’s low.

However, Alibaba stock could be setting up as a buy now.

The stock is bouncing nicely on the day, although it’s off its session high. Still, shares are up by about 3% on the day and flirting with a monthly-up rotation by clearing the December high at $129.45.

It comes after Jeffrey Gundlach called China “uninvestable” and after Berkshire Hathaway’s  (BRK.B) – Get Berkshire Hathaway Inc. Class B Report  (BRK.A) – Get Berkshire Hathaway Inc. Class A Report Charlie Munger has reportedly been building a position in Alibaba.

Source: https://www.thestreet.com/investing/trading-alibaba-baba-stock-monthly-rotation-charlie-munger-buys?puc=yahoo&cm_ven=YAHOO&yptr=yahoo