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Alibaba's US$9bn buyback fails to revive its stock

Alibaba Group Holding Ltd (阿里巴巴) has spent more on share buybacks than any other tech firm since the sector’s downturn began, but that has done little to boost its stock’s fortunes.
The e-commerce giant’s shares are trading about 60 percent below last year’s peak even after the company deployed more than US$9 billion to repurchase its stock, according to Bloomberg’s calculation.
The Hangzhou, China-based firm yesterday unveiled a plan to boost its buyback plan to US$25 billion the third increase since Beijing’s tech crackdown started in late 2020.
The stock’s lackluster performance reflects lingering worries about the impact of China’s crackdown, ....

United States , Hong Kong , Paul Yeung , Justin Tang , Alibaba Group Holding Ltd , Pinduoduo Inc , Asian Research At United First Partners , Tencent Holdings Ltd , Group Holding Ltd , Asian Research , United First Partners , The Taipei Times ,

India's Byju's aims for SPAC merger agreement within a month

India's Byju's aims for SPAC merger agreement within a month
newsindiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsindiatimes.com Daily Mail and Mail on Sunday newspapers.

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