If it felt like the biggest financial event for 2014, that’s probably because it was: the Alibaba Group Holding Ltd. (NYSE: BABA) September, 2014 initial public offering garnered wall-to-wall coverage and breathless sky-high stock price valuations.
Early on, those predictions came true: BABA’s $68 per share opening price quickly rose nearly 40% on its first day of trading, finishing up at just under $94 per share while raising over $21 billion. Within three months, it ballooned to $120 per share.
Since then, it has been a steady downhill slide, and signs point at continued struggles for the Chinese ecommerce giant.
If you think now’s the time to jump in on a bargain, you may be sadly mistaken. The smart money saw it coming—and isn’t about to make future mistakes.
Here are seven reasons to run for the hills: