Posted 4/10/2024, 1:39:12 PM
Jack Ma Backs Alibaba Revamp to Bolster Growth
- Jack Ma expresses support for Alibaba's restructuring efforts in rare public appearance
- Aims to rejuvenate company, avoid "big company trap", and return to efficiency and market-first approach
- Rolling out $1.5B subsidy campaign to attract more Chinese brands and merchants to AliExpress
- Stock price rose after positive memo from Ma praising management changes
- Over past year, Alibaba stock has plunged 26%; investors can gain exposure via PGJ and CGRO ETFs
