During Thursday’s afternoon trade, Shares of Alibaba Group Holding Ltd (NYSE:BABA), dropped -0.15% to $82.24. The firm opened its current trade at $81.97, and as of now, it is trading at $82.24. The total volume traded for the day is 12.38M shares, as compared to its average daily volume of 17.98M shares. The stock is floating in a range of $80.82 $82.53. The stocks hold the market capitalization of $207.73B.
Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $93.26, according to 41 brokers. The higher price target for BABA is $115.89, while the lower price target is $59.94. In the past 52-weeks, the company shares have declined -16.38% and marked new low $57.20 on Sep 29, 2015. According to news report, Cainiao Logistics, the logistics associate of Alibaba Group Holding Limited (BABA), has unveiled special logistics arrangements made for this year’s 11.11 Global Shopping Festival. Cainiao operates an industry-leading proprietary logistics information platform providing both buyers and sellers with real-time information access. The information assists facilitate the efficient delivery of goods ordered on Alibaba’s marketplaces. During this year’s 11.11 online sale event, Cainiao estimates more than 1.7 million delivery personnel, 400,000 vehicles, 5,000 warehouses and 200 airplanes will be deployed by its logistics partners to handle deliveries on the busiest day on the shopping calendar.
“The massive number of delivery orders generated from this great online shopping event really pushes us and our delivery partners to do our very best,” said Cainiao Chief Technology Officer Ben Wang. “The extraordinary success and increasing popularity of 11.11 is a testament to the hard work and achievements of our partners and staff. By leveraging big-data technology and our extensive domestic and international logistics network, all of us stand ready to deliver world-class logistics services to our customers once again this year.”
Cainiao (formerly known as China Smart Logistics), the logistics associate of Alibaba Group Holding Limited, is dedicated to meeting the current and future logistics demands of China’s online and mobile commerce sector.
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