Back to top

Singles Day 2019: Alibaba Sets New Sales Record

Read MoreHide Full Article

Singles Day is a national holiday in China and the world’s largest shopping event. Young Chinese people celebrate their pride in being single, and the date, 11/11, was chosen because it resembles a person who is alone. This year was the 11th edition of Singles Day.

It’s hosted every year by Chinese e-commerce giant Alibaba (BABA - Free Report) , and the company hit a new sales record: over $30 billion; gross merchandise volume (GMV) hit $12.01 billion in the first hour. This easily surpasses any single U.S. shopping holiday like Black Friday or Cyber Monday.

Some of the top-selling products included Apple’s (AAPL - Free Report) iPhone 11 and Huawei’s 5G Mate Pro smartphone.

Alibaba wasn’t the only company offering deep discounts. Competitors JD.com (JD - Free Report) and Pinduoduo all offered their own sales, as well as some of Southeast Asia’s e-commerce platforms like Lazada.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


JD.com, Inc. (JD) - free report >>

Alibaba Group Holding Limited (BABA) - free report >>

Apple Inc. (AAPL) - free report >>