Alibaba and Singles Day 2020 – Motley Fool
In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Maria Gallagher about the latest headlines and earnings reports from Wall Street. They talk about how people have no problem spending money with Alibaba (NYSE:BABA), some new draft regulations by Chinese authorities, and much more.
To catch full episodes of all The Motley Fool’s free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
This video was recorded on Nov. 12, 2020.
Chris Hill: It’s Thursday, November 12th. Welcome to MarketFoolery. I’m Chris Hill, with me today, from the financial capital of the United States of America, it’s Maria Gallagher. Thanks for being here.
Maria Gallagher: Thanks for having me.
Hill: Earnings season continues to roll on, but first, we’re going talk about Alibaba, the Chinese e-commerce giant. Shares are up a bit in the wake of Singles’ Day; and for those unfamiliar, Singles’ Day is November 11th and it is the biggest [laughs] shopping day of the year, it is Black Friday and Cyber Monday combined and then, like, double that, because Alibaba did $75 billion in sales for Singles’ Day. It’s a little hard for me to wrap my head around that.
Gallagher: Yeah, it’s pretty wild. So, it started in 2009, Singles’ Day as a holiday, it’s November 11, 11/11, so four 1s in a