At a time when the Chinese billionaire Jack Ma was not seen for more than two months, the shares of his company, “Ali Baba”, fell strongly, especially with the suspension of the offering of “Ant Group”, in which “Alibaba” contributes by about a third.
“He might have caught him at the party, and he might be in a dark room now,” Leland Miller, head of the Chinese research group, China Beige Book, said last week, speaking of Alibaba founder Jack Ma, the richest man in China, who He hasn’t been seen in weeks.
“Party”, not intended for the ceremonial genre, such as the annual Alibaba party in 2017, when Ma, dressed as Michael Jackson with a golden mask, rode a motorcycle on stage, and then jumped to dance, as he meant the ruling Communist Party in China. According to the site «Market Watch».
In a survey conducted by FactSet, 53 of the 54 analysts who cover Alibaba shares said that now is the time to buy.
Alibaba has an active user base that is more than twice the population of the United States, dominates e-commerce significantly in China more than Amazon in the United States, and is more profitable than Wal-Mart and Amazon in its retail operations, and it also connects manufacturers with wholesale buyers around The world via Taobao.com.
Alibaba has complementary side businesses that cover cloud computing and shipping logistics. Alipay was created to increase confidence in online payments. It split in 2011, and its name was changed to Antgroup, which is much larger than PayPal. , As it moves into lending, investing and insurance.
Ant Group went public last year, and the company was valued at about $ 300 billion, compared to $ 617 billion for Alibaba. The offering was suspended last November, with the Chinese organizers announcing the opening of an anti-monopoly investigation in Alibaba, Plus a look at setting new rules for the Ant group.
Miller says that he is facing many problems, personally and in terms of his company, and he may “keep his head down”, or he may have been detained for not honoring the organizers.