Market Wrap - Stock pick — Alibaba
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Imtiaz Suliman from Sentio Capital chose Alibaba as his stock pick of the day.
"I'm going with Alibaba, they are a Chinese internet company and are really sort of a eBay in China. They've got two platforms, the one is Taobao which is for the small and medium enterprises and Tmall for the bigger enterprises. What they really do is take a fee on every transaction that takes place on their platform and they also generate advertising fees from their platform. The growth rate has been phenomenal and I think one of the positives that we can take out from this crisis is a lot more people will be shopping online rather than going to the malls and that's going to benefit Alibaba going forward as well."
"I'm going with Alibaba, they are a Chinese internet company and are really sort of a eBay in China. They've got two platforms, the one is Taobao which is for the small and medium enterprises and Tmall for the bigger enterprises. What they really do is take a fee on every transaction that takes place on their platform and they also generate advertising fees from their platform. The growth rate has been phenomenal and I think one of the positives that we can take out from this crisis is a lot more people will be shopping online rather than going to the malls and that's going to benefit Alibaba going forward as well."
