Weeks after Alibaba Group Holding Ltd (NYSE:BABA) held one of the most successful IPO’s investors are already asking why it is a requisite to share information when shopping on the company’s online platform. The main concern according to Fox business Stuart Varney is that any information shared could be used by the Chinese government to carry out vicious attacks.
The Chinese government has in the recent past been accused of targeting American companies through a network of spies and hackers. Handing over any personal information willingly to Alibaba according to Varney would essentially translate to giving the Chinese government a go ahead to do whatever it wishes.
Keith Fitz-Gerald of Money Map Press’ argues that it will be extremely difficult for people to bypass high growth stock such as Alibaba Group Holding Ltd (NYSE:BABA) because of hacking concerns.
“You are talking about a company that sells stock. It’s for every dollar it sales it keeps 43 cents in profits. It is the world biggest internet company, it is bigger than two Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc. (NASDAQ:EBAY) combined. There is a lot of potential here. It is not just about the IPO not even about that it is in China, this is about the consumer,” said Mr. Fitz-Gerald.
Fitz-Gerald also believes that investors will give a cold shoulder to the hacking concerns and focus on attaining maximum returns with their investments in Alibaba Group Holding Ltd (NYSE:BABA).
“If you are moral that’s great I get that, but you know what? At some point, you have to look at what potential you are leaving on the table, and that is what Alibaba Group Holding Ltd (NYSE:BABA) comes down to, for me. It is what kind of potential versus what your individual moral position is on the issue,” said Mr. Fitz-Gerald.
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