Jack Ma Buys Alibaba Stock in Show of Support for AI Buildout
Jack Ma bought more than HK$600 million in shares as Alibaba executives signaled confidence in the company’s artificial intelligence spending plans.
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8 Articles
Jack Ma, Alibaba Top Executives Buy $102 Million of Stock After Record Share Sale
Jack Ma, Alibaba Top Executives Buy $102 Million of Stock After Record Share Sale - The massive follow-on offering spooked the market, dragging shares below the placement price before news of management purchases prompted a slight rebound
Jack Ma has invested 65 million euros (more than 600 million Hong Kong dollars) in shares of Alibaba Group Holding, according to well-known sources cited by South China Morning Post. The purchase reinforces the founder’s position in the Chinese e-commerce giant and shows his commitment to artificial intelligence. The shareholder movement is known on August 25, at a time when Alibaba is preparing a capital increase to raise 80 billion Hong Kong d…
As of August 25, Alibaba founder Jack Ma had increased his holdings of Alibaba's Hong Kong-listed shares by over HK$600 million in recent days. This increase comes after a lackluster market response to Alibaba's HK$80 billion IPO. However, renowned US stock market short seller Michael Burry stated that Alibaba's share price is already too high and he is not optimistic about Alibaba's latest IPO strategy.
These purchases would show Ma's 'firm confidence that Alibaba will achieve its AI goals and take advantage of long-term growth opportunities', according to one source. ...
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