U.S.-listed shares of Chinese companies are tumbling as investor anxiety over the new tariffs mounts -- especially after President Donald Trump threatened additional levies if Beijing doesn't roll back its retaliatory duties.
For nearly two months in the first quarter (Q1) of 2025, Michael Burry's portfolio was highly successful thanks to his massive investments in Chinese technology stocks.
Given the stock's poor performance since its pandemic-prompted peak in late 2020, it would have been easy to give up on China's e-commerce giant Alibaba Group (BABA -9.88%). And plenty of investors did.
Shares of Alibaba (BABA -11.69%) are tumbling on Friday. The company's stock lost 11% as of 1:50 p.m.
Chinese stocks experienced significant declines on Friday as trade tensions between the US and China escalated. The downturn was triggered by China's move to impose retailiatory tariffs on the US.
Michael Burry made a name for himself by correctly predicting and profiting from the 2008 subprime mortgage crisis, as immortalized in the blockbuster motion picture ‘ The Big Short '.
Liberation Day gave way to Armageddon as markets sold off considerably Thursday. Large retaliatory tariffs against nearly every US trading partner caused the dramatic dump.
Alibaba Group Holding Limited stock took a minor beating today, falling 0.34%. It fared better than most stocks despite the slight price dip. Trump hit China with a 34% "reciprocal" tariff rate, among the highest of all nations. The total tariff is now 54%. Alibaba does not send an especially high percentage of its goods to the United States. Prices on many bulk items remain attractive even after the 54% tariff.
AI is projected to add $15.7 trillion to the global economy by 2030, with China expected to see a 26.1% GDP growth from AI. Alibaba, benefiting from China's AI initiatives, has seen a 60.7% stock increase, driven by growth in its Cloud Intelligence Group and ecommerce operations. Despite concerns of overbuilding in AI data centers, Alibaba plans to invest $52 billion in AI and data centers over the next three years.
Nvidia may have been the AI darling in recent years, but Alibaba Group Holding Ltd (NYSE: BABA) is currently a better pick to bet on a continued momentum in artificial intelligence, says EMJ Capital founder Eric Jackson.
Eric Jackson, EMJ Capital founder, joins 'Closing Bell Overtime' to explain why he sold Nvidia, how to navigate the stock, and more.
Alibaba Group Holding reportedly plans to release an upgraded version of its flagship AI model, Qwen 3, later this month. The timing of the release could change, Bloomberg reported Tuesday (April 1), citing an unnamed source.