Benzinga | Jan 7, 2022 01:02PM EST

Here's Why This Fund Manager Sees Buying Opportunity In Alibaba

* Lockdowns in China could be a boon for businesses like Alibaba Group Holding Ltd (NYSE:BABA), says Stonehorn Global Partners CEO Sam Le Cornu, CNBC reports.

* Cornu's firm is buying more shares in the Chinese tech giant.

* "Based on valuations and the earnings outlook, we see that it's a buying opportunity."

* The covid induced lockdowns could benefit e-commerce platforms like Alibaba's Taobao and Tmall, as consumers will still need to buy goods but have limited opportunity to visit brick-and-mortar stores.

* Tencent Holdings Ltd (OTC:TCEHY), Alibaba, JD.com Inc (NASDAQ:JD), Pinduoduo Inc (NASDAQ:PDD) all did well during the lockdown last time, the report quoted the investor.

* Le Cornu was "pretty impressed" with how Alibaba navigated some macro headwinds.

* Price Action: BABA shares traded higher by 3.40% at $130.94 in the premarket session on the last check Friday.