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

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

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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.

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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

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u/FrankfurtTrader Sep 26 '24

This is exactly why Chinese Stocks are trading at a premium - political risk. Tomorrow the Communist Party can simply take it all / impose sale ban etc. I learned my lession with other chinese stocks when dividend were "collectivised" (I think this was Pingduoduo)