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Alibaba shares' performance after the lockup ends
阿里巴巴限售股解禁經(jīng)受大考
It's a challenging moment for Chinese internet giant Alibaba. That's because the company's 180-day lockup period on the New York Stock Exchange ended Wednesday and the insiders owning a total of nearly 440 million U.S. dollars of Alibaba shares can now sell them if they want.
Analysts are standing in two opposite groups on the development. Barclays Bank, Deutsche Bank and Credit Suisse all cut their long-term price targets for Alibaba in the past few days, while keeping buy calls.
Stifel Nicolaus, meanwhile, upgraded the company's shares from hold to buy on Tuesday and added it into the "select list", citing Alibaba's long-term benefits capability.
At the same time, Morgan Stanley recommended building positions in Alibaba on the current "overly bearish sentiment".
Moreover, due to different lock-up periods, stock held by Alibaba's largest shareholders will be frozen until the company's IPO anniversary in September.
On Wednesday, Alibaba stock edged up to 84.59 dollars a share.
