Alibaba Jumped Over 12% in Morning Trading after Raising Buyback Target to $25B

Tiger Newspress2022-03-22

Alibaba jumped over 12% in morning trading after raising buyback target to $25 billion.Alibaba has raised its share buyback program to $25 billion from $15 billion. Its board approved the share repurchase program, which will run for two years through March 2024.

The company had purchased 56.2 million ADRs for about $9.2 billion, as of March 18, under its previously announced program.

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Comments

  • LimLS
    2022-03-23
    LimLS
    Need more than share buyback to bring price back up to its previous level. They need the help of the big funds/institutions to start buying to push the price up. As of now, these big boys are stil wary of the Chinese ADR. Until we see news of SEC letting go of the Chinese ADR, expect the price to continue its up/down within a certain range.
    • Hilliton324
      Don't worry about falling. The government has given the market confidence.
    • BurnellStella
      You're right, Wall Street's money isn't ready to buy right now.
    • Maria_yy
      I believe the SEC will release Chinese ADR.
    • PandoraHaggai
      I'll just stay on the sidelines until the next big news arrives.
    • SiongZ
      Stock repurchase proves that the company's cash flow is very good, which is very important to restore investor confidence.
  • PaperPlay
    2022-03-23
    PaperPlay
    Appreciate constructive comments below: whybuy $BABA when the superior company doing the same thing & more is $AMZN?
    • PaperPlay
      👍 appreciate your comment LimLS
    • LimLS
      Some may already be vested and are trying to average down. Some may be influenced by the news/influencers and entice to buy, believing in huge profit ahead. Both are not the best reasons to buy though
  • Bspn
    2022-03-22
    Bspn
    Ok
  • Jazling
    2022-03-22
    Jazling
    Wow
  • Barbarazhao
    2022-03-22
    Barbarazhao
    Great 👍 
  • Ken7979
    2022-03-22
    Ken7979
    Buy with confidence! 
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