Why I sold out of my Alibaba position
Hi all, Today I will share on the key reasons why I sold out of Alibaba positions ( both HK and US side). To give some context, I purchased Alibaba when it first IPOed in HK under the ticker 9988.HK at 183 HK dollars and have been holding the stock for almost two years. I even added to my position in US last year, to add on to my existing holdings. However, after considering various reasons and the current market sentiment, I decided to sell out of them. I purchased the HK shares at HKD183 and sold at HKD211.00. I purchased the US shares at USD 193 and sold at USD 229. 1. Political climate As many of us would know, the start of this nightmare began when Ant IPO was blocked from listing on the HK exchange. I for one, was very disappointed as I had prepared to get in on the Pre-IPO to purchase Ant Group. I still remember the night before when it was blocked to list on the Shanghai exchange, and subsequently blocked to list on the HK exchange. To add fuel to the fl...