Alibaba Gets Rare Wall Street Downgrade as Rival Gains Traction... #short #finance

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Alibaba Group Holding Ltd. received a rare downgrade from Wall Street as its main rival, PDD Holdings Inc., overtakes it as China's most valuable e-commerce firm. Morgan Stanley lowered its rating on Alibaba and named PDD as its top pick in China's e-commerce sector. PDD's market cap surpassed Alibaba's for the first time, and its stock has surged over 80% this year while Alibaba's has dropped 15%. The downgrade is attributed to Alibaba's slower-than-expected turnaround and its decision to withdraw the spinoff of its cloud business, which brings uncertainty to the value-unlocking from reorganization.

View the original article: https://finance.yahoo.com/news/alibaba-gets-rare-wall-street-004339951.html (Bloomberg)
Full title: Alibaba Gets Rare Wall Street Downgrade as Rival Gains Traction

Original article date: 2023-12-01T00:43:39Z
Art: https://media.zenfs.com/en/bloomberg_technology_68/ffad98e5444d9397bdfbf482526b252d
Background music: https://www.youtube.com/watch?v=hCtwi8XkB4o

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