Alibaba Stock Could Double Over Its Split Plan. There Are Even More Reasons to Like It.
Updated March 29, 2023 9:19 am ET / Original March 29, 2023 8:24 am ET
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Alibaba plan to split itself up into six parts has been cheered by investors who see it as a pathway to unlocking value in the Chinese tech giant, whose stock has been battered in the past two years amid a wave of regulatory pressures.
Alibaba (ticker: BABA) stock jumped 14.3% on Tuesday, its best day in many months, after the group said it would split into six units and open the door to these subsidiaries going public on their own. Set to open around $98, the stock is on a tear—though far below its peak above $300 notched in late 2020. That might change.