Alibaba has become a mainstay in the tech world since Jack Ma co-founded the company from his apartment in Hangzhou, China about two decades ago. It runs massive e-commerce, payments, logistics and cloud computing businesses.
One of China's biggest technology names, Alibaba has a market value of about $467.66 billion and its stock is up more than 31 percent year-to-date.
That is a 92.15 percent jump in value from the closing price on the first day of trading. Alibaba doesn't pay any dividends.Alibaba has become a top player in the global tech world since Jack Ma co-founded the company from his apartment in Hangzhou, China about two decades ago. It runs massive e-commerce, payments, logistics and delivery, entertainment and cloud computing businesses and reinvests profits to support new areas of growth.
He explained Chinese consumers have been through a"long stretch of increased consumption" and that it is possible there may be a meaningful pullback on that front as the economy slows. Alibaba Executive Vice Chairman Joseph Tsai said during the most recent earnings call that the company is convinced e-commerce growth and the digitization of retail will continue to outpace the overall Chinese economy. He also addressed potential concerns around the ongoing U.S.
"It is time-consuming and costly," Danny Law, a Hong Kong-based analyst at brokerage Guotai Junan, told CNBC, referring to the process of acquiring new users. He added that e-commerce players are also trying to uncover greater value from existing customers by getting them to spend more and with increasing frequency.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alibaba invests $693 million for stake in Chinese courier STO ExpressAlibaba Group Holding Ltd will take a 14 percent stake in STO Express Co Ltd thr...
Read more »
Switzerland releases new version of banknote worth $1,000BERLIN (AP) — It's purple and yellow, and very valuable: Switzerland's central bank has unveiled a redesigned version of its 1,000-franc ($1,000) note. The Swiss National Bank said Tuesday...
Read more »
Virginia Republicans offer $1,000 reward for photo of state attorney general in blackfaceThe Republican Party of Virginia is offering a $1,000 reward for a photograph of the state's Democratic Attorney General Mark Herring in blackface.
Read more »
10 Cities Where You Can Own A Home For About $1,000 A MonthWhile housing affordability continues to be a concern across the country, here are 5 cities where you can own a home for about $1,000 a month:
Read more »
10 Cities Where You Can Own A Home For About $1,000 A MonthHere are 10 metropolitan areas around the country where you can own a home for about $1,000 a month.
Read more »
10 Cities Where You Can Own A Home For About $1,000 A MonthWhile housing affordability continues to be a concern across the country, there are some metropolitan areas where homes are a relative bargain
Read more »