Public Relations Newsroom - Promo

Today's Stock Losers: Alibaba, Walgreens, Nio, and Boeing




After nearly a month of a stunning rally, Alibaba’s (BABA) uptrend broke down in a hurry. The stock had double-bottomed at $67.50 late last month. After the Chinese e-commerce firm posted quarterly results, the stock peaked briefly at over $90. The short-lived rise proved a bearish sign.

BABA stock closed at $80.80 after the company copied JD.com’s (JD) convertible debt offering worth $4.5 billion. The cash raised from the debt is contradictory to its stock buyback and dividend payment. The cheap lending rate of 0.25% interest is the only advantage of the issuance.

In the drugstore sector, Walgreens (WBA) followed the sell-off in CVS Health (CVS) from weeks ago. The stock fell by around 6% on Wednesday and another 3.16% on Thursday. At $15.95, WBA stock has not traded this low since 1998. News it sold shares of Cencora (COR) to raise $400 million failed to lift the stock.

Walgreens decreased its COR stock holding from 13% to around 12%.

In the Chinese EV sector, NIO lost 8.4%. It risks re-testing the $3.61 low for the year.

Boeing (BA) troubles continue to mount. BA stock fell by 7.55% after the CFO said that plane output in Q2 is not likely to rise from Q1 levels. Aerospace investors should continue to avoid BA shares.



Source link

About The Author

Scroll to Top