- The stock price of Alibaba Group Holding Ltd (NYSE: BABA) has increased by 5.5% today. This is why it happened.
The stock price of Alibaba Group Holding Ltd (NYSE: BABA) has increased by 5.5% today. Investors appear to be reacting to Alibaba co-founder Jack Ma resurfacing for the first time in 3 months. And this is the first time that Ma made an appearance since the Chinese government opened an investigation into Alibaba and regulators suspended the IPO of Alibaba spinoff Ant Financial.
Back in October, Ma had spoke against Chinese government policies at the Bund Finance Summit in Shanghai. It is believed that these Chinese government told Ma to lay low since then.
In this case, Ma briefly spoke at an annual event that recognizes rural teachers. Prior to launching Alibaba, Ma was an English teacher. Ma was also touring a primary school in his hometown of Hangzhou in the video.
Investors believe that Ma resurfacing in this video indicates that his relationship with the regulatory authorities may be stabilizing. While Ant Financial will likely still have to offer some concessions, it may get the IPO back on track sooner than later.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.