Why Alibaba's Stock Price Should Bounce Back in 2024 (BABA)

Alibaba's stock price could bounce back in 2024. Learn why in this video.

More about Alibaba's stock repurchase plan via Reuters:
China's Alibaba Group (9988.HK) said on Tuesday it had repurchased a total of 897.9 million of its shares for $9.5 billion during 2023. The shares were bought in both the U.S. and Hong Kong stock markets, the company said in a filing. The e-commerce giant said the remaining amount the company's Board had authorized for its share repurchase program, which is effective through March 2025, was $11.7 billion. "Our share repurchase program resulted in a net reduction of 3.3% in our outstanding shares in the last 12 months after accounting for shares issued under our ESOP (employee stock ownership plan)," the company said. Alibaba had 20 billon outstanding shares as of Dec. 31, compared with 29.7 billion at the end of 2022.

Details about Alibaba's 2024 buybacks:
Alibaba said on Tuesday that going forward, it will provide updates on its share repurchase after the end of each quarter to enhance transparency for investors. The move offers a timelier flow of information into the pace of the Hangzhou-based group’s share repurchases for investors. Previously, Alibaba updated the market on its share buybacks during quarterly earnings announcements... Alibaba’s share repurchase program, which remains in effect through March 2025, still has $11.7 billion left to go as of Dec. 31. As of Dec. 31, Alibaba had 20 billion ordinary shares, or 2.5 billion American depositary shares (ADSs), outstanding, compared with 20.7 billion ordinary shares, or 2.6 billion ADSs, from Dec. 31, 2022..."