Before this whole fiasco, I was high on BABA as were many of my peers. Jack Ma seems to have pissed off the Chinese government by publicly criticizing regulators and now he seems to have disappeared off the face of the earth.
The Chinese government doesn’t give a shit, they’re straight up mercenaries. They don’t even pretend to disguise their brutality. For Christ’s sake, they’re genociding an entire group of people (Uighurs, a Muslim minority in western China)!! Point is, if they want you gone, you’re gone. I’m not informed enough to cite specific examples, but haven’t they disappeared billionaires before?? Not making a political statement here, I just want to make money...or rather...avoid losing money due to my BABA position.
Sure, Jack Ma could simply be laying low until the heat dies down. No one knows for sure.
My question is buy, sell, or hold?
My gut is telling me to sell and take the ~12% loss (I got in just a few months ago) and do some tax loss harvesting and repurpose the $ to something more stable. Otherwise, I fear my 12% loss can balloon to 40%. Thoughts?
This video + article does a good job at summarizing: CNN video + article
Submitted January 04, 2021 at 09:19PM by ManOfMilk42069 https://ift.tt/3hLO56C
