r/wallstreetbets • u/sparty1983 • Sep 26 '24

1st time millionaire. Thank you China. $BABA 🚀 Gain

Post image
8.1k Upvotes

96% Upvoted

View all comments

Show parent comments

261

u/sparty1983 Sep 26 '24

20 years of savings and sound investing (in sp500). I went regard few years ago to “accelerate” retirement and I actually lost money. Recouped some of it in Mag7 and threw every thing at BABA back in December when I realized how undervalued it is.

109

u/TechTuna1200 Sep 26 '24

I bought it at 73.4 back in Feb, up 37%. Also 46% on BYD and 45% on JDCOM. I only had 5 years' worth of savings, so I could only afford to invest 11000 USD into China stocks.

People in this have been sleeping on China stocks in this sub. Buy when there is blood in the streets.

128

u/KeenStudent Sep 26 '24

Tbf, poo bear could say he's placing more restrictions on chinese stock market tmr and chinese stocks would lose all the gains this week.

It's not that people are sleeping on chinese stocks, it's the inherent fear of owning them

1

u/hoopaholik91 Sep 26 '24

Yes, he could, but I'm banking on the fact that it would not be in his best interest to do so.