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Benzinga
Benzinga
Business
Melanie Schaffer

Chart Wars: Does Amazon Or Alibaba Have More Upside Potential?

Amazon Alibaba BABA

Amazon.com, Inc (NASDAQ:AMZN) and Alibaba Group Holdings, Inc (NYSE:BABA) were trading down over 4% and 1.3%, respectively, on Tuesday afternoon in a continued sell-off that has seen Amazon lose about 16% of its value and Alibaba about 14% since Jan. 12.

The stocks are headed toward their quarterly earnings print, with Amazon expecting to report on Feb. 3 after the closing bell and Alibaba before the markets open on Feb. 8. Both multinational tech and e-commerce giants have suffered massive declines, although Alibaba has been hit harder for a longer period of time, currently trading down 62% off its Oct. 27, 2020 all-time high of $319.32, while Amazon is down a total of 26% since reaching a July 13, 2021 all-time high of $3,773.08.

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