Market Wrap - Stock pick — Alibaba
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Caroline Cremen from Adviceworx chose Alibaba as her stock pick of the day.
"My stock pick is Alibaba, people think of it as being the Chinese Amazon but it is much more than that, it has financial services, it's also the world's third biggest cloud provider after Microsoft and Amazon. Its PE is very attractive relative to Amazon and the growth potential there is enormous. Alibaba has about 40 percent year-on-year revenue growth and a very large cash balance, so yes, invest in China but, invest in good single companies not the market. "
"My stock pick is Alibaba, people think of it as being the Chinese Amazon but it is much more than that, it has financial services, it's also the world's third biggest cloud provider after Microsoft and Amazon. Its PE is very attractive relative to Amazon and the growth potential there is enormous. Alibaba has about 40 percent year-on-year revenue growth and a very large cash balance, so yes, invest in China but, invest in good single companies not the market. "
