Alibaba stock jumped by 14% and closed at $98.4. Alibaba will split its business to 6 different companies. Each company will be able to raise money and have its own trading stock.
Other Chinese stocks jumped on the news. One of the reasons for the split is to reduce tensions between the Chinese government and the company.
The Chinese government prefers that companies won't have too much concentrated power. Alibaba’s business will split into cloud, ecommerce, food delivery, housing, AliExpress, and TV streaming.
www.trademarkets.eu
#AlibabaStocks #Aliexpress #ChineseStocks
Other Chinese stocks jumped on the news. One of the reasons for the split is to reduce tensions between the Chinese government and the company.
The Chinese government prefers that companies won't have too much concentrated power. Alibaba’s business will split into cloud, ecommerce, food delivery, housing, AliExpress, and TV streaming.
www.trademarkets.eu
#AlibabaStocks #Aliexpress #ChineseStocks
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