机构投资者正在大量逃离阿里巴巴

猛兽财经2021-11-23

对于阿里巴巴的股东来说，最糟糕的情况似乎还没有结束。最新数据显示，本季度已经有大量机构投资者再次抛售其在美股上市的股票。人们可能想知道抛售是否已经结束，现在是否是投资的好时机，但事实可能并非如此。有理由相信，这种抛售至少会持续几个月，这不可避免地会使阿里巴巴股价持续低迷一段时间。接下来就让我们仔细看看这一切。机构抛售美国证券交易委员会将管理资产至少为 1 亿美元的投资经理归类为机构投资者，并...

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免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

火箭发射
2021-11-24
火箭发射
果断入手阿里巴巴
叮叮当当的小人物
2021-11-24
叮叮当当的小人物
事后孔明
rpk
2021-11-24
rpk
70再说
Dannyang
2021-11-24
Dannyang
完蛋
股市图书馆
2021-11-24
股市图书馆
我是一个很贪婪的人哈哈哈
华尔街猎手
2021-11-24
华尔街猎手
都下跌超过50%了，你才来吹机构在逃离阿里？该逃离的人已经逃离了，不逃离的人这个时候已经在加仓了好吧！

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周低点，但机构仍然继续减持。他们本可以等待股票稳定下来，然后在更高的水平上减仓，但他们似乎太急切（或绝望？）而无法迅速抛售头寸。\n\n这就引出了一个问题——为什么大量机构投资者着急抛售阿里巴巴的股票？\n抛售背后的理由\n此次抛售背后的主要原因之一是美国证券交易委员会对阿里巴巴等在美国证券交易所上市的不合规外国公司的坚定立场。监管机构基本上希望这些公司接受审计检查，或者最终从美国交易所摘牌。其负责人此前曾就退市风险向此类公司发出警告，监管机构本月进一步批准了将不合规公司从美国交易所移除的框架。很明显，SEC 并没有让步。这为我们提供了几种可能的情况：\n(1)也许中美贸易紧张局势消退，这一切都会永远消失，阿里巴巴的股价会上涨。\n(2)也许像阿里巴巴这样的公司会被罚款，但它们仍然在美国交易所上市。\n(3)也许阿里巴巴和类似公司对美国的审计检查开放，并出现严重的报告违规行为。\n(4)也许这些公司愿意接受美国审计检查，但没有发现报告违规行为。\n(5)也许阿里巴巴和其他此类公司有可能从美国交易所退市。\n除了股东的困境之外，阿里巴巴还在其核心中国市场面临经营压力。阿里巴巴的业绩可能会恶化，因为它放弃垄断行为、遵守中国监管机构并在公平的竞争环境中竞争。这家电子商务巨头在 22 财年第二季度的调整后 EBITDA 利润率为17%，低于去年的 31%，公司也下调了今年的收入预期。\n鉴于阿里巴巴的不确定性，该股在未来 6 个月内是否会跌至 100 美元，或者是否会因一些意外的好消息而上涨至 200 美元，都是有可能的。但我们相信这种极端的不确定性和波动性是机构抛售背后的原因。\n机构投资者类别由不同的实体组成——例如对冲基金、共同基金、养老基金、ETF、保险公司等——具有广泛不同的风险偏好。在对冲基金有风险偏好在阿里巴巴启动反向多头头寸的情况下，养老基金等规避风险的实体可能希望尽快退出阿里巴巴，因为保本对他们来说至关重要。这就是为什么我们看到少数机构购买阿里巴巴的股票，而绝大多数机构正在卖出。\n话虽如此，从上表可以明显看出，机构投资者仍持有阿里巴巴在美国上市的 22.5% 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