HONG KONG (Reuters) - Internet giant Alibaba Group Holding Ltd (BABA.N) said on Monday it would buy an aggregate direct and indirect stake of 36.16 percent in China's top hypermarket operator, Sun Art Retail Group Ltd (6808.
Alibaba Pictures Group operates an online cinema ticket venture and invests in Chinese and foreign movies. Over the past week, its shares were down about 10% in Hong Kong, the lowest since March 2014, according to Bloomberg.
Shares of Alibaba Group Holding Ltd (NYSE:BABA) have been on fire so far this year, up a ridiculous 97%. However, I feel that BABA stock could have even more upside and at the very least, are setting up for a very low-risk, high-reward buy.