Is Now The Time To Buy Into Alibaba, Virgin Galactic, Or GameStop Stock?

The following three stocks are on the radar of retail investors and day traders early Friday.

Alibaba Group Holding Ltd BABA: The Jack Ma-founded e-commerce and technology leviathan was the topmost trending name on Stocktwits list of trending streams on Thursday night.

See Also: How To Buy Alibaba (BABA) Stock

The company was also among the most discussed on r/WallStreetBets or WSB, a Reddit retail investor forum.

On Thursday, Alibaba-backed healthcare data firm LinkDoc suspended its U.S. IPO after Beijing came down heavy on overseas listings by the country’s companies, reported Reuters.

China’s move comes after the country’s cybersecurity watchdog suspended the recently New York-listed Didi Global Inc’s DIDI mobility-focused application from major app stores in the country.

On Wednesday, KeyBanc Capital Markets analyst Hans Chung said that Alibaba’s position in e-commerce and cloud markets is better-than-feared even after it coughed up $2.8 billion in record antitrust fines.

Alibaba shares closed 3.92% lower at $199.85 on Thursday in the regular session and gained nearly 0.4% in the after-hours trading. The company’s shares have declined 14.1% since the year began.

Virgin Galactic Holdings Inc SPCE: The Sir Richard Branson-founded company that wants to launch a “new space age” by sending tourists into the void emerged as the most-discussed name on WSB at press time.

The billionaire Branson is set to board a spaceplane on July 11 as part of the crew onboard the company’s next test spaceflight.

See Also: Billionaire Space Flight Turns Into Space Fight As Elon Musk, Blue Origin CEO Take Potshots At Richard Branson

Virgin Galactic shares got a boost ahead of Branson’s flight soaring 17.27% in the regular session on Thursday to $52.69. The shares rose 2.14% to $53.82 in the after-hours session.

Since 2021 began, Virgin Galactic shares have skyrocketed 122%.

GameStop Corporation GME: The video game retailer is a favorite among the crowd at WSB, and is in a way perhaps the original stonk as it rose to fame due to a short squeeze this year.

On Thursday, GameStop was among the most mentioned names on the forum.

Television host and hedge fund veteran Jim Cramer addressed the WSB crowd through Twitter Thursday and pointed to the turnover plan for GameStop being implemented by d Chewy Inc CHWY founder Ryan Cohen, who is a major investor in the retailer.

The plan involves transforming GameStop from a brick-and-mortar retailer to an e-commerce focused company.

GameStop shares have soared 915.8% on a year-to-date basis. On Thursday, the company’s shares rose almost 0.4% to $191.38 in the regular session and fell 0.76% in the after-hours trading.

Read Next: Epic Stonk Battle Of 2021 First-Half: GameStop Vs. AMC Vs. Clover Health Vs. Rocket Companies Vs. Blackberry

Photo by BentleyMall on Wikimedia

Posted In: e-commerceRedditretailRetail InvestorsShort Squeezespace tourismstonkswallstreetbetsLong IdeasTrading Ideas

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