Alibaba raises stock buyback plan to $10 billion, but stock continues to sink

0
41
Alibaba raises stock buyback plan to $10 billion, but stock continues to sink


Alibaba Group Holding Ltd. increased its stock repurchase program late Sunday from $6 billion to $10 billion, but shares still sank in Hong Kong trading amid an antitrust investigation by Chinese regulators.

In a statement Sunday, Alibaba said its board of directors had approved the larger repurchase, to last through 2022. The stock repurchase program began earlier this quarter.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here