SE - What's Going On With Alibaba Stock Thursday? | Benzinga
Alibaba Group Holding Limited (NYSE: BABA) stock is trading higher Thursday amid reports of the company further investing $634 million in its Singapore-based e-commerce subsidiary, Lazada.
This investment comes as Alibaba faces increasing competition in the Southeast Asian market, particularly from TikTok and other players.
The investment involved Lazada issuing additional stock to Alibaba's Singapore subsidiary.
This move marks Alibaba's third investment in Lazada in 2023, bringing the total investment for the year to over $1.8 billion, the Nikkei Asia reports.
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