Tag Archives: Alibaba

(Bloomberg) — Chinese technology stocks dropped for a third straight session amid fresh worries over Beijing’s regulatory plans for the sector. Most Read from Bloomberg The Hang Seng Tech Index fell more than 3% on Tuesday and headed for the lowest close since its inception in 2020. Alibaba Group Holding Ltd. led declines following a Bloomberg report that authorities have begun another round of checks on its fintech business arm. The rout weighed on the broader Hong Kong market, with the… Source link

Charlie Munger just doubled his bet on tech giant Alibaba to $71.5 million — try these 3 China plays instead to diversify your exposure Warren Buffett is famous for getting “greedy when others are fearful.” And his right-hand man Charlie Munger isn’t opposed to going against the herd, either. Best known as Berkshire Hathaway’s vice chairman and Buffett’s long-time business partner, Munger also serves as the chairman of Daily Journal, a newspaper publisher with a sizable stock portfolio of… Source link

(Bloomberg) — Alibaba Group Holding Ltd. is replacing its long-standing chief financial officer and reshuffling the leaders of its commerce businesses, the most notable management changes since the Chinese firm survived a bruising antitrust investigation. Most Read from Bloomberg Toby Xu will succeed Maggie Wu as CFO from April 1, the company said in a statement late Sunday. Wu will remain in the Alibaba Partnership and serve as executive director on the internet giant’s board, according to… Source link

(Bloomberg) — Few people could have predicted the downward spiral for Alibaba Group Holding, when founder Jack Ma delivered a blunt criticism of China’s financial system last October. Most Read from Bloomberg Yet one year on, the technology titan has lost a whopping $344 billion in market capitalization — the biggest wipe-out of shareholder value globally, according to data compiled by Bloomberg. Shortly after the now infamous speech, Beijing suspended the listing of its fintech arm Ant… Source link

Alibaba Group Holding Ltd (NYSE: BABA) is trading higher Monday morning after China fined food delivery giant Meituan $534 million for antitrust violations, which increased investor optimism that China’s regulation on their large tech companies is easing. China technology stocks listed in Hong Kong rallied following the announcement as the $534 million fine was not as large as expected. Jefferies analysts said the antitrust fine has removed an “overhang” over Meituan. “We believe the SAMR… Source link

Alibaba Group Holding Ltd (NYSE: BABA) is trading lower Friday amid continued Evergrande default concerns. Evergrande had an $83 million interest payment due Thursday for a bond that’s set to mature in March 2022. The company has not said whether or not it intends to make the payment. As of Friday morning, Evergrande had not made any announcement or filing to the Hong Kong exchange. The company will not default unless it fails to make the payment within 30 days. Alibaba is the world’s largest… Source link

Miller Value Partners recently released its Q2 2021 Investor Letter, a copy of which you can download here. The Miller Opportunity Trust Class I gained 4.18%, underperforming its benchmark, the S&P 500 Index which returned 8.55% in the same quarter. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of this year. In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Alibaba Group Holding Limited… Source link

Heading into a new trading week, Pfizer Inc. (NYSE: PFE), Alibaba Group Holding Limited (NYSE: BABA), Nvidia Corp. (NASDAQ: NVDA) and Moderna Inc. (NASDAQ: MRNA) are among the stocks seeing the highest interest on Reddit’s r/WallStreetBets forum. What Happened: Pfizer has emerged as the most-discussed stock on the forum with 106 mentions, followed by exchange-traded fund SPDR S&P 500 ETF Trust (NYSE: SPY) with 102 mentions, data from Quiver Quantitative showed. Chinese e-commerce giant… Source link

Alibaba Group Holding Ltd -ADR (NYSE: BABA) has been slaughtered since October 2020 when it reached an all-time high of $319.32. The sharp decline has been partly due to poor U.S./China relations as well and Chinese regulators cracking down on the e-commerce giant and its CEO Jack Ma. Since July 22 the decline in the stock has accelerated and although there has been some bounce plays for the bulls, the stock has become risky due to new out of China, when the U.S. markets are closed, causing… Source link

(Bloomberg) — Alibaba Group Holding Ltd. has fired a manager accused of rape, moving to contain the fallout after an employee’s account of her ordeal went viral on social media and ignited fierce debate about rampant sexism across China’s tech industry. The Chinese internet giant didn’t identify the manager. Li Yonghe, appointed just last month to lead a newly created division overseeing much of Alibaba’s non-retail businesses from food delivery to travel, has resigned alongside his… Source link