TradingKey – After Alibaba (BABA) announced its share placement, the market initially responded with a sell-off, but the stock price did not continue to lose ground. Meanwhile, several top investment banks still maintain a positive outlook on the company.

On August 24, Alibaba’s Hong Kong-listed shares closed at HK$112.5, just HK$0.2 below the placement price of HK$112.7; although the stock dipped to HK$110.1 intraday, it recovered most of its losses in late trading. Previously, the company announced its first share placement since its 2019 Hong Kong listing, intending to place 710 million new shares at HK$112.7 per share, representing a discount of approximately 8.37% to the closing price of HK$123 on August 21.

The fact that the stock…