Activist Investor Ryan Cohen Takes Stake in Alibaba and Pushes for More Stock Buybacks

The Wall Street Journal2023-01-17

Activist investor Ryan Cohen has built a stake in Alibaba Group Holding Ltd. orth hundreds of millions of dollars and is privately pushing the Chinese e-commerce giant to accelerate and further boost ...

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Comments

newminted
2023-01-17
newminted
Ok
Sphere
2023-01-17
Sphere
BABA up
- Sphere:
  Up
Edmundse
2023-01-17
Edmundse
It's about time to move up😃
MoonK
2023-01-17
MoonK
Let's go baba!
- SimonChan:
  👍🏻
leeinvest
2023-01-17
leeinvest
...
- newminted:
  ok
- BG68:
  Good
TaiWoeiHaur
2023-01-17
TaiWoeiHaur
👋

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155

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Mr. Cohen wants to have a collaborative, long-term relationship with Alibaba, the people said.Mr. Cohen has also conveyed his belief that Apple, in which he owns a more-than $800 million stake, could provide a road map for Alibaba, the people said. Since 2012, the iPhone maker has repurchased hundreds of billions of dollars of its shares and the stock has soared.Share repurchases can support stocks by reducing the supply of shares traded and boosting per-share profit. Investors often take them as a bullish signal as they suggest executives are optimistic about their company’s prospects and confident in its financial position.In August, Alibaba showed that its once-powerful growth had run out of steam, as the company failed to post revenue growth for the first time since its blockbuster 2014 U.S. listing. Revenue for its fiscal first quarter fell 0.1% from the prior year, to the equivalent of $30.7 billion, with Alibaba blaming China’s Covid-19 outbreak, which has caused disruptions to supply chains.In its second quarter, Alibaba eked out 3% revenue growth. The company said that key categories within its commerce division, such as apparel and accessories and consumer electronics, had started to recover.Mr. Cohen, who built his fortune on online pet retailer ChewyInc., which he founded, has publicly shown an affinity for the Chinese economy in recent months. 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