Alibaba's stock price is soaring thanks to news about $BABA's boosted share buyback program. This video incorporates an enduring lesson about buybacks from legendary investor, Warren Buffett.
According to The Wall Street Journal: "Alibaba Group Holding Ltd. BABA 12.30% boosted its share buyback program to $25 billion from $15 billion, in a bid to reassure investors about the company’s prospects after a year in which its stock has fallen by more than half. The potential buybacks are substantial compared with the Chinese e-commerce giant’s market value: As of Monday, it had a market capitalization of about $270 billion, according to FactSet. The modified repurchase program will be effective for two years through March 2024, Alibaba BABA 12.30% said on Tuesday morning Hong Kong time. It said the 67% increase in the firepower allocated for buybacks was “a sign of confidence about the company’s continued growth in the future.”
According to The Wall Street Journal: "Alibaba Group Holding Ltd. BABA 12.30% boosted its share buyback program to $25 billion from $15 billion, in a bid to reassure investors about the company’s prospects after a year in which its stock has fallen by more than half. The potential buybacks are substantial compared with the Chinese e-commerce giant’s market value: As of Monday, it had a market capitalization of about $270 billion, according to FactSet. The modified repurchase program will be effective for two years through March 2024, Alibaba BABA 12.30% said on Tuesday morning Hong Kong time. It said the 67% increase in the firepower allocated for buybacks was “a sign of confidence about the company’s continued growth in the future.”
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