Jim Cramer Recently Discussed These 15 Stocks & The California Wildfires

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4. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders In Q3 2024: 115

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese conglomerate with a presence in lucrative industries such as eCommerce and cloud computing. It is one of the largest players in China with estimates suggesting that Alibaba Group Holding Limited (NYSE:BABA) controls 40% of merchandise shipments in China. Recently, though, it has had to face competition from upstarts such as Pinduoduo. Despite the fact that it is comparable to Amazon when it comes to its Chinese market presence, Alibaba Group Holding Limited (NYSE:BABA) trades at a forward P/E ratio of just 8.57. This is because Chinese stocks are heavily discounted due to friction between the US and China. The low valuation was also on Cramer’s mind:

“[On Chinese stocks having lower multiples because of potential US action] Right, and that’s true about Alibaba, that’s a very inexpensive stock. I mean people have just decided, we can’t trust China. These stocks are very cheap but we don’t know what’s going to happen with them.”

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