The stock of Alibaba is still on a tear. Even given a loss of 1.48% last week, this stock’s performance has been astounding.
Shares of Alibaba Group (NYSE:BABA) rose 15.1% in June 2017. This according to S&P Global Market Intelligence.
#Alibaba is China’s largest provider of various e-commerce services and online shopping platforms. The company held an impressive investor conference in early June. CFO Maggie Wu issued full-year guidance of roughly 47% revenue growth. Furthermore, founder and chairman Jack Ma reiterated his vision of servicing a cool $1 trillion of gross merchandise volume in the year 2020.
The company is expected to manage approximately $550 billion of gross sales in fiscal year 2018 (the current year), so it would only take 35% of average annual growth to reach $1 trillion in two years.
This is an incredibly successful company today, and Alibaba should continue its high-growth ways for years to come.