Alibaba: +3.1% in less than 24 hours
Alibaba was expected to report its second-quarter earnings before the open of trading on Wednesday, November 2. We had published the question a few days before earnings report was released:
Alibaba Group Holding Limited (BABA) will report its Q2 earnings on Wednesday, November 2 before the market open. Will Alibaba report earnings per share (EPS) above Wall Street Consensus of $0.70?
According to Cindicator users, the probability for Alibaba to beat analysts’ expectations was 71 percent. Therefore, we had bought a few shares of BABA at $100.94 before the market close on Tuesday, November 1.
The China-based internet giant reported adjusted diluted earnings per American depositary share (ADS) of $0.79 on revenues of $5.14 billion. The stock jumped more than 5% in premarket trading on Wednesday. We sold BABA stock at $104.01 average.
Gross profit was 3.1% in less than 24 hours.
Happy trading,
Cindicator team
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