Here's Why This Fund Manager Sees Buying Opportunity In Alibaba

Lockdowns in China could be a boon for businesses like Alibaba Group Holding Ltd BABA, says Stonehorn Global Partners CEO Sam Le Cornu, CNBC reports.
Cornu's firm is buying more shares in the Chinese tech giant.
"Based on valuations and the earnings outlook, we see that it's a buying opportunity."
The covid induced lockdowns could benefit e-commerce platforms like Alibaba's Taobao and Tmall, as consumers will still need to buy goods but have limited opportunity to visit brick-and-mortar stores.
Tencent Holdings Ltd TCEHY, Alibaba, JD.com Inc JD, Pinduoduo Inc PDD all did well during the lockdown last time, the report quoted the investor.
Le Cornu was "pretty impressed" with how Alibaba navigated some macro headwinds.
Price Action: BABA shares traded higher by 3.40% at $130.94 in the premarket session on the last check Friday.