Market Wrap - Stock pick — Alibaba
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Viv Govender from Rand Swiss Offshore chose Alibaba as his stock pick of the day.
"An interesting story is that around three to four months ago Alibaba CEO Jack Ma had some mild criticism of the Chinese government, which they don't allow and ever since that day he has disappeared, effectively he haven't seen Jack Ma anywhere. There was a possibility that he had been arrested or in detention and then just in the last day or so he reappearing in the market and in public and that's the reason that Alibaba jumped up almost 10% on the day. If Jack Ma had gone into the bad books of the government, Alibaba as well would have followed. So my stock pick for the evening is Alibaba"
"An interesting story is that around three to four months ago Alibaba CEO Jack Ma had some mild criticism of the Chinese government, which they don't allow and ever since that day he has disappeared, effectively he haven't seen Jack Ma anywhere. There was a possibility that he had been arrested or in detention and then just in the last day or so he reappearing in the market and in public and that's the reason that Alibaba jumped up almost 10% on the day. If Jack Ma had gone into the bad books of the government, Alibaba as well would have followed. So my stock pick for the evening is Alibaba"
