Why Did Alibaba Group Holding Ltd (BABA) & GoPro Inc (GPRO) Stock Soared On Wednesday?

Wednesday has turned out to be a great day for two tech stocks, GoPro Inc (NASDAQ:GPRO) and Alibaba Group Holding Ltd (NYSE:BABA). GoPro Inc (NASDAQ:GPRO) went up by around 6.7% as it closed on Wednesday, on the other hand Alibaba Group Holding Ltd (NYSE:BABA) went up by around 4.8% on Wednesday. ‘TheStreet’ article discuss about the reasons behind the rally of these tech stocks on a single day.

Picture1

Ambarella Inc (NASDAQ:AMBA) is the chip supplier to GoPro Inc (NASDAQ:GPRO) and Ambarella has reported a very strong earnings report. Ambarella also suggested that its first-fiscal quarter revenue would be as high as $64 million to $68 million, whereas the street was expecting that to be around $59 million. This huge boost in a main supplier stock has boosted GoPro Inc (NASDAQ:GPRO) stock as well on Wednesday.

Many analysts point at different catalyst for GoPro Inc (NASDAQ:GPRO) growth in the days to come. Some of this catalyst includes, Hero4+ Upgrade cycle, further expansion into media industry, possible entry into cloud space, etc.

On the other hand, Alibaba Group Holding Ltd (NYSE:BABA) was facing a lot of criticisms and issues in the last few days. Since the beginning of 2015, the stock dropped more than 15% and was alleged on Tuesday that Alibaba Group Holding Ltd (NYSE:BABA)’s websites has ‘fake’ orders. As another blow to Alibaba Group Holding Ltd (NYSE:BABA), Taiwanese government has announced that they are planning to throw Alibaba Group Holding Ltd (NYSE:BABA) out of their country in 6 months.

Amid all these issues and problems, Alibaba Group Holding Ltd (NYSE:BABA) announced on Tuesday that it would open a data center in Silicon Valley. This came as a huge boost for Alibaba Group Holding Ltd (NYSE:BABA) stock despite all the negative points against the company.

The data center due to set up in California by Alibaba Group Holding Ltd (NYSE:BABA), will be the Chinese e-Commerce giants first global expansion for its data center business. The only problem is that Alibaba Group Holding Ltd (NYSE:BABA) will not be directly colliding with Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN) in the cloud operations space.

Disclosure: None

I jsut made 84% in 4 daysI Just Made 84% in 4 Days By Blindly Following This Hedge Fund

I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said “I lost money by EXACTLY following your stock picks”. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.