Traders on Reddit and other internet forums famously pushed up the price of meme stocks to dizzying highs at the start of the pandemic. SOPA Images/Contributor Meme stocks have been on the rise recently as November’s market rally brings a ...
Home/Around the world/Wall Street
Good Day Friends Latest Articles
Posted in alibaba, beijing, Biden, Big Tech, bytedance, China, China sanctions, chip-maker, chips, clouds, hong kong, Jack Ma, joseph-tsai, Markets, MI Exclusive, Stock Market, Wall Street
Alibaba extends losses to $26 billion in market value after the company announces big reversal of spin-off plans
GoodayfriendsReuters/Aly Song Alibaba has lost $26 billion in market cap since Thursday, after it shelved plans to spin off its cloud business. Executives said they needed to “reset” strategy, and pointed to US restrictions on chip sales to China. The ...