Alibaba shares slip after report on Jack Ma wanting change
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Dow Jones
Alibaba shares (BABA) fell 3% in premarket trade, as the Financial Times reported that company founder Jack Ma wrote on an internal forum that the internet giant will have to change and reform. Ma's comment was in response to an employee commenting on the success of rival PDD Holdings (PDD), whose results topped earnings expectations. Alibaba has recently made a U-turn on a plan that would split the company up into six different parts.
-Steve Goldstein
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11-29-23 0501ET
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