How To Play Singles Day

Alibaba Group Holding Ltd. (NYSE: BABA) has its biggest weekend of the year: Singles Day. While American shoppers are gearing up for Black Friday and Cyber Monday, Chinese shoppers, particularly younger, single shoppers, are celebrating the Chinese version of an anti-Valentine’s Day by snatching up huge deals on Alibaba’s e-commerce platform.

Expectations Are High

Alibaba registered $12 billion in gross merchandise volume in its first two hours of Singles Day sales on Friday, and analysts are expecting this year’s event to be the biggest ever. Citigroup is calling for $23.8 billion in …

Full story available on Benzinga.com

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