Alibaba $Alibaba (BABA.US)$Currently "bargaining" Alibaba. $BABA-W (09988.HK)$.
Confidence is more important than gold, and may be more suitable for the current Alibaba. After the stock price experienced an epic crash, Alibaba once again instilled confidence in the market. In the morning of March 22, Alibaba announced a massive $25 billion share buyback plan, directly igniting Alibaba's Hong Kong stock and causing its share price to soar by more than 11% in a single day.
Previously, Alibaba had been continuously sold off by the market, with the stock price plummeting by over 66%, and the total market cap of Hong Kong-listed companies evaporating as much as 4452.3 billion Hong Kong dollars. Almost all the capital that bought into Alibaba at its lowest point was wiped out, even the 97-year-old Charlie Munger stumbled, suffering a paper loss of over 40%.
Alibaba's firm share buyback and Charlie Munger's continuous bottom fishing ultimately return to the core issue: Does Alibaba have a future? Can its operational performance return to growth?
Alibaba 'bottom fishing' Alibaba
Alibaba is going to invest 160 billion to 'bottom fish' Alibaba.
On the morning of March 22, Alibaba Group announced that the company's board of directors, based on the authorized amount, increased the share repurchase from $15 billion to $25 billion (approximately RMB 159 billion), to demonstrate the company's confidence in sustained future growth. Bloomberg data shows that Alibaba's buyback plan accounts for 8.9% of the company's current market value, setting a record for the scale of share buybacks by Chinese concept stocks...