XPeng Shares Fall in Hong Kong as Alibaba Continues to Trim Stake
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 21 2024
0mins
Should l Buy BABA?
Source: WSJ
- XPeng Stock Decline: XPeng's stock experienced a significant drop in Hong Kong following Alibaba's decision to sell more shares in the electric-vehicle maker.
- Reason for Stock Fall: Alibaba's move to potentially divest itself of noncore assets led to a decline in XPeng's share value.
- Stock Performance: XPeng's shares fell by as much as 8.0% early Thursday and were recently down by 5.7% at 38.25 Hong Kong dollars (US$4.89).
- Alibaba's Stock Movement: Despite the sale of XPeng shares, Alibaba's stock saw an increase of 2.2%, reaching HK$72.80.
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Analyst Views on BABA
Wall Street analysts forecast BABA stock price to rise
15 Analyst Rating
15 Buy
0 Hold
0 Sell
Strong Buy
Current: 125.410
Low
180.00
Averages
203.09
High
230.00
Current: 125.410
Low
180.00
Averages
203.09
High
230.00
About BABA
Alibaba Group Holding Ltd is an investment holding company mainly engaged in the provision of technology infrastructure and marketing platforms. The Company operates its business through nine segments. The China Commerce Retail segment is engaged in the China commerce retail business. The China Commerce Wholesale segment is mainly engaged in the operation of 1688.com. The Cloud Intelligence segment provides cloud services. The International Commerce Retail segment provides customer management services, sales of goods and logistics services. The International Commerce Wholesale segment is mainly engaged in the operation of Alibaba.com. The Cainiao Represents Logistics Services segment provides fulfilment services. The Local Services segment’s revenue includes platform commissions, logistics services revenue. The Digital Media and Entertainment segment engages in the operation of Youku and Alibaba. The All Others segment is mainly engaged in the Sun Art, Freshippo and other business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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