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Antitrust Scrutiny Hits China Technology, Internet ETFs
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Author Bio
Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio.
His coverage reflects his passion for motorcycles, booze, and guns (though typically not all exercised at the same time), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor.
The past year has been a volatile one for
Alibaba (NYSE:BABA), China s largest e-commerce and cloud platform company. The stock price fell with the broader market as the COVID-19 pandemic hit China in early 2020, but rebounded as its online sales rose and stay-at-home measures boosted the usage of its cloud services.
However, a series of regulatory challenges abruptly ended Alibaba s rally at the end of the year. Chinese regulators suspended the long-awaited IPO of Alibaba s fintech affiliate Ant Group, fined Alibaba for its unapproved takeover of InTime Retail, then launched an antitrust probe into its e-commerce business.
Meanwhile, the disappearance of Alibaba co-founder Jack Ma, rumors of China s plans to nationalize Alibaba and Ant, delisting threats in the U.S., and the Pentagon s desire to add Alibaba and
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