ALIBABA STOCK LOSES $26 BILLION ON REPORT OF JACK MA ARREST

Alibaba Stock is 5% of my portfolio, and it's causing me nothing but stress. This video discusses the report that Alibaba's founder, Jack Ma, was arrested. The news caused Alibaba investors to dump approximately $26 billion dollars worth of Alibaba stock. And guess what? It turns out that it was a different Ma...

Articles Referenced:
1. Alibaba investors are so skittish they dumped $26 billion because police arrested someone named Ma. It wasn’t Jack - Alibaba Group shares crashed in early trading on Tuesday after China’s state broadcaster announced the arrest of someone with the same surname as the e-commerce company’s founder. CCTV, China’s state broadcaster, reported Tuesday morning that police in Hangzhou, Alibaba’s home city, had taken “compulsory measures” against an individual with the last name Ma on April 25. The broadcaster said Ma had been apprehended on charges of using the internet to engage in activities endangering national security. Investors, fearing that the individual in question was Alibaba’s billionaire founder Jack Ma, quickly dumped their shares, causing the stock to crash by as much as 9.4%, erasing about $26 billion in value.
Link - https://fortune.com/2022/05/03/alibaba-shares-founder-jack-ma-cctv-report-arrest/

2. Alibaba’s shares fall in Hong Kong following unconfirmed rumors linking Jack Ma to probe - Alibaba’s Hong Kong-listed shares closed about 1.7% lower Tuesday — after earlier falling more than 9% —following unconfirmed rumors that linked the company’s founder Jack Ma to a national security investigation. Chinese state media reported earlier in the morning that the Hangzhou security bureau on April 25 took “criminal coercive measures” on an individual with the last name Ma over suspicion of using the internet to endanger national security.
Link - https://www.cnbc.com/2022/05/03/alibabas-shares-fall-after-unconfirmed-rumors-link-jack-ma-to-a-probe.html

ALIBABA STOCK LOSES $26 BILLION ON REPORT OF JACK MA ARREST