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With its share price falling and more than HK $3 trillion wiped off its market value annually, Mr Zhang said Alibaba was focused on technology

via:AI财经社     time:2021/10/19 18:00:26     readed:142

Speaking about Alibaba's stock price at the Fortune Global 500 summit on October 19, Alibaba Chairman Daniel Zhang said that Alibaba does not manage its stock price because it creates value over the long term. He added that Alibaba is focused on technology development because new opportunities can be found to create value in technological innovation.

AI Finance learned that Alibaba's Hong Kong shares hit a historic high of HK $309.4 on October 28, 2020.

Since then, however, Alibaba has been under fire for alleged monopolistic practices, and the company's share price has tumbled. By Oct. 5, 2021, Alibaba's Hong Kong shares had fallen to HK $132, a new low in nearly a year.

According to the latest figures, Alibaba traded at HK $164.8 per share as of the close of Trading on October 19, 2021. Its total market value is now HK $3.58 trillion, about HK $3.15 trillion off its all-time high set last year. (word | AI club in the summer of finance and economics)

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