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π¨π³ Three Chinese companies to buy out the current drawdown
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π Chinese companies listed on the US exchanges have long been among the underdogs of the stock market. Invesco Golden Dragon China ETF (NASDAQ: PGJ), which is considered an indicator of Chinese business in the US, has lost more than 68% since February 2021. But active sales also provide a chance to make money.
In the medium term, it is worth buying back the drawdown of some stocks.
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β’ Alibaba (NYSE: BABA)
Shares suffered a sharp drop amid Beijing's crackdown on companies working in the field of personal data protection. The chances of recovery appeared due to the easing of pressure from regulators and the easing of worries about delisting in the US.
Now the growth potential to the fair price is at least 59.0% of the current level. The nearest target can be found in the $127.50-128.50 zone.
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β’ Baidu (NASDAQ: BIDU)
The company is reorganizing its business into the cloud, autonomous driving and artificial intelligence markets to resolve a years-long audit dispute and maintain a US listing. Dynamics are still unstable, but trading interest is actively shifting in the direction of purchases.
The growth potential to fair price is at least 38.0% of the current level (up to $188), the first target should be looked for in the $155-157.50 zone.
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β’ Xpeng (NYSE: XPEV)
Π‘ompany has been seriously affected by the tough COVID quarantine and is now lagging behind its competitors not only in terms of production but also technologically.
Xpeng shares are set to rise strongly as Beijing prepares new stimulus measures to prop up the economy in the short term. For example, there is an intention to extend the tax credit for the purchase of new electric vehicles until the end of 2023 to stimulate demand.
The growth potential to fair price level is at least 35% of the current level. The first target should be looked for in the $27.50-30 zone.
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Profits to yβall!