According to Alibaba’s 2021 third-quarter fiscal earnings, its adjusted earnings rose to $3.38 a share, while revenue reached $33.9 billion (221.1 billion RMB), which was a jump of 37 percent over the prior-year quarter.īut the restructuring of Ant will also affect luxury. However, due to these developments, seasoned investors will see an opportunity to acquire Alibaba stock at a relatively cheap valuation.
The Jing Take: Bloomberg highlights how “there’s little clarity over how investors will now judge the firm.” And we anticipate that the latest trends will enhance uncertainty in the market and hurt public confidence in the Alibaba brand, which will force investors to proceed with caution. Moreover, the fintech giant is also obliged to cut the outstanding value of its money-market fund, Yu’ebao. Regulators ordered Ant to rectify unfair competition in its payments business, end a monopoly of information, improve corporate governance, and manage liquidity risks. The operations overhaul comes after Ant’s largest-ever initial public offering was abruptly suspended last November. What Happened: Last week, Chinese regulators hit Alibaba with a record $2.8 billion antitrust fine, and now, are calling for a major overhaul at Ant Financial.Īccording to Bloomberg, Beijing is forcing Ant Financial to become a financial holding company, allowing it to be regulated more like a bank.
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