Watching the $BABA Move Post-Earnings - China Tech Turning a Corner?
That move in $BABA today, up over 11% and holding near the highs at $108.968, is pretty significant. It comes on the back of the earnings report, and while the broader economic picture in China is still a mixed bag, this kind of reaction suggests some serious institutional interest, or at least a covering of shorts. I'm not ready to call a full-blown comeback for Chinese tech, but I'm definitely putting some of the other names on my watchlist for potential follow-through. It feels like the market might be starting to price in a bottom for these heavily-beaten-down sectors. The regulatory overhang hasn't magically disappeared, but perhaps the perceived worst-case scenarios are off the table for now. It's an interesting shift in sentiment to monitor.
It's definitely an interesting move, but I'm curious if this is more of a relief rally after being so beaten down, or if there's real fundamental improvement driving it. The volume today was pretty significant.