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Technology Stocks : Alibaba Group Holding Limited
BABA 177.70+0.2%Oct 22 4:01 PM EDT

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From: Julius Wong11/4/2020 7:35:20 AM
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The Ant Got Crushed, Buying Opportunity For Alibaba
Nov. 4, 2020 6:30 AM ET
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ALT Perspective
Long/Short Equity, Growth At Reasonable Price, Contrarian, Deep Value

Summary

* Ant Group announced the suspension of its blockbuster IPO in both Shanghai and Hong Kong, resulting in an 8.1 percent plunge on Tuesday.

* The suspension of the IPO was not due to some shenanigans discovered but the release of draft rules stipulating tightened online microlending standards.

* The new rules impact the entire industry, not just Ant Group. As an sector leader, Ant has an advantage to emerge from this debacle stronger than peers.

* Readers familiar with my coverage on Tencent would know it similarly suffered from regulatory tightening but has thrived in spite of the scrutiny.

* I argue that Alibaba's Tuesday plunge is a buying opportunity.

seekingalpha.com
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