On March 15, "Alibaba (American Depository Receipts ADR)" investor sentiment dropped to the "freezing point."

Following a 10% drop on March 14, Alibaba ADR continued to fall on March 15.

Extending time, from January 1, 2021 to March 15, 2022, Alibaba ADR stock price fell by approximately 67%.

"Depression, anxiety, nightmares, hallucinations of "margin calls", and watching a month's income being lost in one day while going to work. I can't help but use trading software during conference calls, and drink to drown my sorrows after get off work." Well-known overseas A netizen wrote this on the social networking site.

Another netizen said that he started buying Alibaba (ADR) when it was 180 US dollars, and added positions as it fell. When it reached 130 US dollars, he felt that it would not fall anymore. Who would have thought: a company with a market value of one trillion US dollars?

will fall below the issue price.

“Maybe I really don’t understand investing, so I just insisted on buying the S&P 500 index,” he (she) lamented.

Some people also said that it was really painful to invest in Alibaba ADR with their children's college education funds.

However, since March 16, Alibaba's stock price has rebounded, and many investors have regained their faith.

It’s not just Alibaba. Over the past year, as the stock prices of Internet companies such as Alibaba have fluctuated, countless investors have experienced joys and sorrows.

"Copying the big guys' homework" is a trap. Those who hold long positions in Alibaba often use "Mangger" to encourage themselves by adding positions.

On January 4, 2022, Daily Journal Corp., owned by Charlie Munger, the golden partner of "Stock God" Buffett, disclosed its 13F filing. As of the end of December 2021, Daily Journal Corp had accumulated Alibaba holdings through American Depositary Receipts (ADRs).

Baba 602060 shares.

This is the third time Munger has bought Alibaba stocks after the first and third quarters of 2021. This time he has nearly doubled his position, which is very rare in his past investment career.

However, Alibaba subsequently fell sharply, and Munger was also trapped by bargain hunting.

Although no one currently knows Munger's operations, some netizens replied that "he will not disclose his positions unless necessary, but you can believe that if the fundamentals do not change, the lower the price, the more he will buy." No

Based on any data, this speculation is more than wishful thinking.

Others bluntly said that Munger’s purchase of Alibaba may have been a mistake.

Faith never dies. In the past year, the stock prices of China Internet, including Alibaba, have been falling. Many stock prices were cut by half and then by the ankle.

Under this situation, although some investors have stopped their losses and left the market, there are also many fans who are sticking to it.

Xiao V, who works in a public equity fund company, once tried to buy Zhonggai Internet at the bottom.

Xiao V has been observing investors in China Concept Internet ETF.

He said, “Even if the net value of the China Concept Internet ETF falls, it’s not the fund manager that Christians will criticize most.”

Xiao V believes that this is not because Christians understand that passive ETFs have little to do with the management capabilities of fund managers. In fact, when the net value of ETFs in other industries such as medical care drops, Christians often scold fund managers.

In his view, this reflects Christian Democrats’ “faith” in the fundamentals of the constituent companies.

Xiao V, who is born in the 1990s, believes that this is related to the investor structure of the China Concept Internet ETF: a considerable part of them are born in the 1990s and 2000s. These "natives" of the Internet are very familiar with the profit model of Internet companies.

Xiao V’s explanation has been confirmed to a certain extent.

For example, data shows that Reddit is a community where American technology, algorithm, and technical people gather.

But the discussion about Alibaba stock on this community is extremely heated.

This may indicate that there is a greater overlap between these two groups of people.

People who are familiar with technology, algorithms, and techniques are often the post-90s and post-00s generation who are most familiar with Internet companies.

This supports to a certain extent Xiao V’s hypothesis that “post-90s and post-00s who are familiar with the Internet invest in Alibaba because they are familiar with the Internet.”

Although Xiao V has left the market, there are still more young investors who are still hanging on.

"I subscribed for 100,000 yuan of China Concept Internet ETF. I originally thought it would be very popular and the placement ratio would not be high, so I subscribed for 100,000 yuan. I expected that I could almost allocate 10,000 yuan. Who knows if I subscribed for 100,000 yuan, 100,000 yuan

Just give me all the yuan," said another investor who invested in the China Internet ETF.

In addition to holding the China Internet ETF in the A-share market, this investor also holds the Hang Seng Technology ETF in the Hong Kong market.

The reason why I bought the Hang Seng Technology ETF was because I had been participating in the new market in Hong Kong stocks before. The new market strategy failed in the past year, so I changed my strategy and used the new money to buy the Hang Seng Technology ETF.