Since the beginning of the year, Alibaba's shares have grown by 81.5%, and today, before the opening of the US stock market, the company is expected to present its financial statements for the first half of the year. Despite the strong growth in the year, Sun Trust analysts are not pulling off the company, because Alibaba is expected to deliver very good financial results. For this reason, Sun Trust's target price for Alibaba is $175.
According to Jim Cramer, traders and investors need to know that Alibaba's shares are fairly volatile during reports. Sometimes stocks rise sharply in the pre-market session and then collapse during the official trading session. In other cases, the shares open with gaps in one direction and consolidate in a narrow range.
Jim Cramer advises traders, who have decided to trade today in the US session to divide their position in two, 50% of the funds to be invested in opening and the remaining 50% after correction and better entry prices.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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