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Stocks A to Z / Stocks B / Alibaba (BABA)
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Author: jtrau ✧  😊 😞
Number: of 75 
Subject: Re: Big news for BABA
Date: 11/17/2023 12:27 PM
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When the former boss of the company sells a large block of his shares at a depressed price, this is not exactly a confidence building measure, I agree.

A few hours ago he made a statement via the South China Morning Post (Hong Kong) - Paywall:
https://www.scmp.com/business/companies/article/32...

Exclusive - Jack Ma’s office says he remains ‘very positive’ about Alibaba and clarifies that he will continue to hold the tech giant’s shares
Shares in Alibaba, the second-heaviest member on the Hang Seng Index with a 7.6 per cent weighting, fell by almost 10 per cent in Hong Kong
Jack Ma, who retired as Alibaba chairman in 2019, remains a major shareholder through his family trust

...

The phased sale is part of a long-standing and long term “preset conditional plan to do a partial sell-down for the future that was adopted in August and it won’t lead to any reduction of [Ma’s] holding of shares for now” and “not a single share has been sold”, according to Ma’s office. “We believe the current stock price is far below its fair value.”



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