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Alibaba’s Singles Day Sales Smashed Records. But Will the Stock Beat History?
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Alibaba (ticker: BABA) said it notched 540.3 billion yuan ($84.5 billion) in gross merchandise volume, its measure for sales in the period, up from RMB 498.2 billion in 2020. That does represent a slight slowing in yearly growth, with sales rising 8.5% from 2020 to 2021 compared with a 26% rise between 2019 and 2020, in Chinese currency terms.
The Chinese technology behemoth had said Thursday that around 400 brands topped RMB 100 million in sales between Nov. 1 and the early hours of Nov. 11, including Apple (AAPL) and L’Oréal (OR.France). Alibaba added that Tesla (TSLA) sold more charging stations for its electric vehicles within the first minute of the Singles Day event than it had during the entire festival last year.
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https://www.marketwatch.com/articles/ali...latestnews
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Alibaba (ticker: BABA) said it notched 540.3 billion yuan ($84.5 billion) in gross merchandise volume, its measure for sales in the period, up from RMB 498.2 billion in 2020. That does represent a slight slowing in yearly growth, with sales rising 8.5% from 2020 to 2021 compared with a 26% rise between 2019 and 2020, in Chinese currency terms.
The Chinese technology behemoth had said Thursday that around 400 brands topped RMB 100 million in sales between Nov. 1 and the early hours of Nov. 11, including Apple (AAPL) and L’Oréal (OR.France). Alibaba added that Tesla (TSLA) sold more charging stations for its electric vehicles within the first minute of the Singles Day event than it had during the entire festival last year.
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https://www.marketwatch.com/articles/ali...latestnews
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