APHA - Wall Street Breakfast: Alibaba Relief

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Alibaba reliefShares of Alibaba (BABA) are rising in China trading after the government's decision to fine the company 4% of 2019 revenue allows it to move forward. The State Administration for Market Regulation (SAMR) said Saturday that it had determined that Alibaba had been abusing market dominance since 2015 by forbidding its merchants from using other online e-commerce platforms. Alibaba said in a statement that it accepts the penalty and “will ensure its compliance with determination.” The $2.75B fine was the highest-ever antitrust penalty imposed by China. But investors are bidding the stock higher, with the fine not material to the company's finances and the cloud of regulatory action removed. Shares are up 8% in China. “Despite the record fine amount, we think this should lift

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Wall Street Breakfast: Alibaba Relief