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Technology Stocks : Alibaba Group Holding Limited

BABA 170.43

-2.0%

Oct 31 9:30 AM EST

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Glenn Petersen

To: Sun Tzu who wrote (795)	2/8/2022 12:41:58 PM
From: Sun Tzu	1 Recommendation of 882

Alibaba Shares Fall After SEC Filing for Sale of 1 Billion American Depositary Shares BY MT Newswires — 1:08 PM ET 02/07/2022 01:08 PM EST, 02/07/2022 (MT Newswires) -- Alibaba Group Holding ( BABA ) shares fell more than 6% Monday afternoon after the company last Friday filed a US registration statement for 1 billion American depositary shares. Each ADS represents the right to receive eight ordinary shares. Citigroup analysts said SoftBank may be reassessing its 24.8% stake in Alibaba ( BABA ), Bloomberg reported Monday. The filing also provides investors whose shares have not been registered with the US Securities and Exchange Commission leeway to offload their holdings. The registration statement could also be related to the potential issuance of new shares for an employee equity incentive plan at Alibaba ( BABA ), according to the Bloomberg report. Trading volume was about 20 million shares against a daily average of almost 24 million. Price: 114.14, Change: -8.08, Percent Change: -6.61

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