What's Going On With Alibaba Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (NYSE:BABA) stock traded lower as the company decided to retain its stake in Ant Group, declining to participate in a share buy-back plan. The People's Bank of China penalized Alibaba's fintech affiliate by 7.123 billion yuan ($984.33 million) in July, signaling an end to the regulatory crackdown. Alibaba, which holds a 33% stake in Ant Group, exhibited confidence in Ant, likely to encourage other investors to take the long-term view. Alibaba is also looking to overhaul its internal employee ranking system.
July 24, 2023 | 11:40 am
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Alibaba's decision to retain its stake in Ant Group and not participate in a share buy-back plan, along with the end of the regulatory crackdown, could potentially impact its stock price. The company's move to overhaul its internal employee ranking system could also have implications.
Alibaba's decision to retain its stake in Ant Group, despite the recent regulatory crackdown, shows confidence in the fintech affiliate. This could encourage other investors to take a long-term view, potentially impacting Alibaba's stock price. Additionally, the company's move to overhaul its internal employee ranking system could have implications for its corporate culture and employee morale, which could indirectly affect its stock price.
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