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The hideous billionaire appeared, and investors began to move

The hideous billionaire appeared, and investors began to move

Jack Ma, known as the co-founder of Alibaba, has rarely been heard from in public lately, but now he has sent a long letter to the company's employees.

He expressed his support for the retail giant's transformation.

After the letter was published, Alibaba shares rose by 5 percent on the Hong Kong Stock Exchange, and based on preliminary data, the stock listed on US stock exchanges may also open with significant gains (3.2 percent increase, red circle).

Alibaba announced this a year ago The work is divided into six separate units, any

It represents the largest transformation in the company's 25-year history.

The company has subsequently had to face a number of challenges, including appointing a new CEO and withdrawing plans to list its cloud and logistics units on the stock exchange, while its relative position in the e-commerce space has declined, primarily in the PDD account, which operates Temu.

Amid the above challenges, Alibaba shares have performed particularly poorly recently, which is why investors responded so enthusiastically to Jack Ma's words of appreciation: the former leader, among others, praised CEO Eddie Wu and President Joe Tsai, emphasizing… that Dividing the company helped make the decision-making process more efficient. He also stressed that although Alibaba has made mistakes in the past, it is important to acknowledge and correct them. Anyway, the message This was Ma's longest message in the past five years On the Alibaba intranet.

Source: Reuters

Cover image credit: Wang He/Getty Images

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