SPY - Alibaba Springs Back To Life As Co-Founders Scoop Up Shares: 'It's Jack Ma — Hot For His Stock' | Benzinga
Shares in Alibaba Group Holding (NYSE:BABA) soared over 7% on Tuesday after co-founders Jack Ma and Joe Tsai purchased shares on both the New York and Hong Kong stock exchanges worth hundreds of millions of dollars.
A regulatory filing with the Securities and Exchange Commission showed that Blue Pool Capital, an entity that holds a significant portion of the fortunes of both co-founders, acquired in the fourth quarter around two million Alibaba American Depository Receipts — shares of the company traded on the New York Stock Exchange — worth around $152 million, according to CNBC.
During the same period, Ma reportedly purchased $50 million worth of the stock on its domestic exchange in Hong Kong.
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The co-founders bought the shares in the weeks before ...