Alibaba Group Holding Limited (BABA) Stock

For the second year in a row, investors have plenty of reasons to be happy. As of now, with just one trading day remaining in 2024, the well-known Dow Jones Industrial Average has increased by 13%, the S&P 500 by 24%, and the Nasdaq Composite, which focuses on growth stocks, has risen by 30%!

Alibaba (BABA) finished the last trading day at $84.95, which is an increase of 0.19% compared to the day before.

In both 2023 and 2024, Michael Burry, who is well-known for 'The Big Short,' caused discussions with his investments in Chinese stocks. His increasing long positions in Alibaba, JD.com, and Baidu raised eyebrows due to their significant size and the questionable performance of China's economy.

Alibaba Group Holding has decided to sell its majority share in the Chinese hypermarket chain Sun Art for as much as HK$12.3 billion ($1.6 billion). This move is part of the e-commerce company's strategy to sell off non-essential assets, despite the fact that the sale is likely to result in significant financial losses.

On Wednesday, China's Alibaba Group Holding Ltd announced that it will sell its majority stake in the hypermarket chain Sun Art Retail Group to the Chinese private equity firm DCP Capital for HK$12.298 billion ($1.58 billion). This 78.7% share is owned by Alibaba's subsidiaries, as stated in a filing to the Hong Kong Stock Exchange. In 2020, Alibaba acquired a controlling stake in Sun Art for $3.6 billion, aiming to enhance its digital influence to benefit Sun Art's numerous hypermarkets in China.

Warren Buffett, a well-known investor, built his wealth using a slow and steady approach. He skillfully identified strong and promising businesses that were undervalued.

On Wednesday, China's Alibaba Group Holding Ltd announced that it has decided to sell its majority ownership in the hypermarket chain Sun Art Retail Group to the Chinese private equity firm DCP Capital for HK$12.298 billion, which is about $1.58 billion.

According to a report from CNBC on December 31, Chinese technology company Alibaba is said to be reducing prices on its AI large language models by up to 85%. This information comes from a post on WeChat by the company's cloud computing division.

Alibaba Cloud, the cloud computing branch of the Chinese e-commerce company, announced on Tuesday that it is reducing the prices of its visual language model Qwen-VL by as much as 85%. This decision highlights the growing competition among China's tech giants to attract more customers for their emerging artificial intelligence products.