In Monday's Blitz Daily, we take a look at China-based e-commerce platform Alibaba Group as it replaces a key leadership position.
Alibaba stock has been in freefall along with dozens of other Chinese-based tech firms as regulatory pressures and fears of delisting have mounted. Shares dropped more than 36% between Nov. 1 and Dec. 3, when the stock dipped below the $110 mark to lows last seen in 2017.
Monday, the company announced it will replace its chief financial officer, and bullish traders flooded into the options chain. More than 19,500 contracts of the Dec. 10 expiration $120 calls have traded around $4 per contract as the stock surged nearly 10%!
But for traders who prefer to keep their investments in the good ol’ US of A, I have two other tech companies seeing massive order flow Monday....
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