Wow, Alibaba (HKE 9988) plunge below HKD$150 per share in the region of HKD$140 per share recently. Is this an after effect of Evergrande? This is a disaster indeed for my "growth stock" investing venture so far. I am still staring into the red despite joining the buying spree only lately but I still plan to continue buying little bit more. Is this catching a falling knife? I still think that the fundamentals of Baba is excellent based on its financial statements and annual growth rate demonstrated. Also, I think that the Communist party will neither be bent on destroying Baba nor nationalizing it out of a sudden. I reckon that the current pressure exerted on Baba has to do with infighting among 2 major factions in the Communist party (Alibaba seems to be linked closely to one of the faction).
Alibaba has also invested in a number of technological businesses. The most recent one is the USD200Mil being invested in the Singapore Logistics firm, Ninja Van, which specializes in final mile delivery in South East Asia countries. Ninja van has already hit "unicorn" status with a valuation crossing US$1 billion and is expected to go for a listing in US within the next 1-2 years. Any further enhancement in valuation from the Ninja van IPO will reap a handsome return for Alibaba's stake also.
Anyway, this whole of September 2021 is a bad month for stocks. It also offered a lot of good buying opportunities for income investing. I am happy to have received much of my yearly dividends in September 2021 and to recycle it back into income producing stocks/REITs for more dividends.
(P.S: I have not updated my Investment Portfolio for sometime. Will probably do it in the next post but too busy recently with work and also catching the super exciting "Squid Game".)
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