Alibaba is the massive Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business financial services. They are phenomenal. And they are massive.
Today, they are a little less massive. The company’s stock is down 9.5% in trading after reporting its third-quarter earnings. Their revenue rose 40%, to $4.22 billion. This sounds great. But it’s not, because it was below analysts expectations of $4.42 billion.
It’s a tough crowd out there, folks.
— #voice (@mituvoice) January 29, 2015
The market has had a rough week in general thus far, dropping triple digits over consecutive days. This isn’t helping.
— MarketWatch (@MarketWatch) January 29, 2015
As is tradition, I shall sit on my couch and just hope things turnaround. Doing my part. Doing my job. You’re welcome.