What's Going On With Alibaba Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower as it continues its organizational overhaul to unlock shareholder value. Several global investors have disassociated themselves from Ant Group Co's proposed share buyback after the company's valuation lost over 70%. Some money managers, including Fidelity Investments and T. Rowe Price Group, Inc (NASDAQ:TROW), have agreed to sell their shares. Alibaba decided to hold on to its stake in Ant Group, declining to participate in the share buyback plan.
August 08, 2023 | 1:41 pm
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NEGATIVE IMPACT
Alibaba's stock is trading lower as it continues its organizational overhaul and declines to participate in Ant Group's share buyback plan.
Alibaba's decision to hold on to its stake in Ant Group and the disassociation of several investors from Ant Group's share buyback plan could negatively impact Alibaba's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
T. Rowe Price Group, Inc has agreed to sell their shares in Ant Group.
T. Rowe Price Group's decision to sell their shares in Ant Group may not have a significant impact on its stock in the short term as it is just one of the many investments of the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50