At this point, what little BABA has done since IPO, I think there's an anti-china sort of mentality against BABA in fear of how ahead of the US etc China is or is going to be. People just don't feel right dumping their money into a Chinese stock. I mean, it's strange they can make so much money, have perfect news (and sometimes bad like almost all big stocks though), but it's been years and the stock only had an initial run up when people took profits (especially those privileged who got pre IPO or something like that if I remember correctly), and then it's been years and it can't break out for bag holders yet you have US stocks making all time highs over all times highs on "fake" printed money etc.