'Jack Ma's Office Says He Remains 'very Positive' About Alibaba And Clarifies That He Will Continue To Hold The Tech Giant's Shares' - SCMP
Portfolio Pulse from Benzinga Newsdesk
Jack Ma's office clarified that he remains 'very positive' about Alibaba and has no plans to sell his shares, despite a recent sell-off. Alibaba's shares fell nearly 10% in Hong Kong after the company decided not to fully spin off its cloud computing unit and reported 9% revenue growth. Ma, retired but still a major shareholder, has not sold any shares and believes the stock is undervalued. He is also focusing on education and innovation, taking up an honorary professorship at the University of Hong Kong.
November 17, 2023 | 1:02 pm
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POSITIVE IMPACT
Jack Ma's office stated he remains positive about Alibaba and will not sell his shares, countering fears after a sell-off. Alibaba's stock fell after halting its cloud unit spin-off and reporting modest revenue growth.
Jack Ma's positive outlook and commitment to holding shares could instill confidence in investors, potentially mitigating the impact of the recent sell-off and supporting the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100