60% Investors Do Not Buy Ali.

As soon as the stock market is on the way, how do Chinese investors view this "biggest IPO" in the history of the US stock market? Will they participate in the investment? Investment platform snowball and PingWest Chinese net launched a joint investigation on snowball platform in September 15th, asking them about their views on Alibaba listing.

The US stock discussion has always been a snowball long term. Here many investors gathered here to exchange views and opinions and form a highly active community.

Following the launch of the official account of @ snowball event at noon on September 15th, thousands of comments have been received.

As of September 17th, Beijing time 16:00, we initially screened out 677 effective answers.

Nearly 6 of respondents said they would not invest in Alibaba.

Of the 677 answers, 397 respondents said they would not invest.

It accounts for 59% of the total respondents. Only 24% of the users said they would invest in Alibaba, and another 16% of them took a wait-and-see attitude.

In addition, 1% of the respondents indicated that they would be empty for the long term or would be short of Alibaba.

The world is hot about Alibaba listing.

However, nearly 6 of the respondents said they would not invest in Alibaba. What are their reasons?

Not optimistic: too expensive, the Hong Kong stock market warning

Among the respondents who did not invest in Alibaba, in addition to 17.6% did not give detailed reasons, the first reason is "no us account", from which we can see the diversification of investors in the snowball community.

The reason for the second ranking is that respondents thought Alibaba was too expensive.

Alibaba yesterday raised the issue price to $66-68 per share again, and the IPO could be raised from 21 billion 800 million to 25 billion dollars.

"When Ma chooses to sell stocks, it must be overestimated.

Look at the 07 year issue of Hong Kong stock IPO. "

In 2007, Alibaba's B2B business went public in Hongkong, raising HK $116, opening up to HK $30, ending at HK $39.5, which reached HK $41.8.

Hong Kong stock market Alibaba has a market value of more than 20 billion US dollars.

However, shortly after the listing, stock prices took a turn for the worse, starting from the third quarter of 2009 and falling all the way down to the issue price.

In February 21, 2012, Alibaba group announced the purchase of the remaining 27.03% of its shares at HK $13.5 per share, and its withdrawal after privatization.

The third reason is that respondents are not optimistic about the long-term growth prospects of Alibaba.

Many of them mentioned competing risks and the impact of competitors such as Tencent.

"The inflection point has reached the point of great decline", "the space for expansion has not been very large, and the territory is always facing the danger of encroachment", "under the influence of the mobile Internet, its moat will be narrowed".

Alibaba is facing pressure from competitors in many fields.

Tencent WeChat is making use of the high frequency utilization rate of hundreds of millions of users to mobile payment and online offline business expansion. Alibaba lacks effective defense measures. Its mobile IM has no excellent performance. Alibaba's overseas IM Tango is also not a front-line application; Alibaba mobile products are dispersed and incapable of directly confronting WeChat's applications;

To help Jingdong continue to compete with Tmall in the field of B2C; Wanda joined Baidu and Tencent to explore offline business services and online integration, and also directly clash with Alibaba's development strategy.

Another 10.6% of investors keep in mind the "warning" of Ali's listing in Hong Kong.

Alipay events and Alibaba Hongkong delisting have been used for a long time. Ordinary readers may be indifferent, but some investors have a good memory.

Their typical speeches are:

"It will not buy Alibaba shares because it has been listed in Hongkong and privatized.

It has brought a lot of losses to many small shareholders. I don't appreciate it from the perspective of integrity.

Or repeat the process again in the United States ".

Related to this, some of the respondents expressed their maladies about Ma Yun and Ali management team.

"The founder of a company has a precedent for violating shareholder's property rights, and even in public there is no guilt about it. This management must be far away."

In May 10, 2011, YAHOO disclosed in a document submitted to SEC that Alibaba has pferred Alipay ownership to the name of Ma Yun holding domestic company.

The incident triggered a heated debate and led to more distrust in the VIE structure of the US stock market.

Critics have accused Ma Yun "missing the spirit of the contract" and "undermining the interests of the shareholders".

Alibaba financial services, including Alipay, are not included in the US listing business.

Optimistic: long-term optimistic about the future

165 of the respondents said they would invest in Alibaba, most of them due to long-term optimism about Alibaba's future.

Respondents were optimistic about Alibaba's "Taobao (Tmall)" mechanism and Alipay's viscosity, "optimistic about Ali, because of China's huge retail market", "its business mode has changed people's consumption habits and improved the overall operation efficiency of the society". "Compared with other electronic business platforms, Ali's status and cash flow can not be seen without the possibility of Ali being replaced by any other". "At present, the monopoly pattern that Ali has formed in China is temporarily hard to be broken.

After watching his takeover, I think he is ambitious.

Waiters: waiting for opportunities to buy

109 of the respondents said they were still on the sidelines, but most of the waiters were waiting for the opportunity to buy. They need to observe the stock price and trend after the official trading of Alibaba.

Finally, I quote the snowball official reminder: "any user or guest speaker in snowball has its specific position. Investment decisions need to be built on independent thinking."

This survey does not constitute investment advice for investors in any aspect, or has a substantial impact on investors' investment decisions.