Alibaba Stock Is a Compelling Buy as It Drifts Toward 52-Week Lows. Here’s Why.

Alibaba (BABA) has lost nearly a quarter of its market capitalization this year and is drifting towards its 52-week lows. The stock peaked in January amid the optimism over its artificial intelligence (AI) initiatives, but has since plunged. Let’s analyze the reasons that have caused BABA stock to crash and whether the pullback is an opportunity to add more shares. Why Has Alibaba Stock Dropped? Alibaba has been battling several challenges. Most recently, data from China’s National Bureau of Statistics showed that retail sales in the world’s second-biggest economy fell 0.6% in May. The metric fell short of estimates and…