Alibaba Group Holding Limited (NYSE: BABA) stock is trading higher Thursday as it replaced Trudy Dai, a founding partner, with CEO Eddie Wu as the head of its core Chinese e-commerce platforms, Tmall and Taobao. The move marked Alibaba's strategy to recover from recent challenges, including intensifying competition from PDD Holdings Inc (NASDAQ: PDD). Alibaba is now focusing on recovering its position in cloud and e-commerce. Li Chengdong, head of the Beijing-based Internet think tank Haitun, co
“We must change, otherwise there is really no way out for us,” wrote Richard Liu, the billionaire founder of Chinese e-commerce giant JD.com, in a company discussion board.