Sources report that the stock price of Alibaba rose up to 5% following the announcement that the founder Jack Ma was not missing. David Faber, a market analyst & financial journalist at CNBC reported that Jack Ma is “lying low” and “not missing” explaining that “what I can tell you is that he’s very likely in Hangzhou, where Alibaba is headquartered, and is being less-visible, purposefully…but that doesn’t mean that he’s missing.”
Earlier in the week news publications were speculating that Jack Ma was missing after he was replaced on a competitive business TV show that he was scheduled to judge, though, he hadn’t been seen by the public in a period greater than 2 months. The speculative reports were speculated to have been responsible for the 3% drop f Alibaba stock at the beginning of this week.
The recent isolationist behavior exhibited by Jack Ma is speculated to be the result of the expanding pressure from the Chinese government observed by Alibaba and Jack Ma’s Ant Group. The November IPO of Ant Group was thrown out due to the new regulations that could drastically change their business model alongside Alibaba recently getting struck with a probe of its business tactics du to possible antitrust violations. The regulatory pressures followed the event of Ma criticizing the financial regulatory systems of the Chinese government, calling it “an old people’s club” with the addition of “we can’t use yesterday’s methods to regulate the future.”
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