Name: Alibaba (BABA) Spinoff On Hold, Stock Drops
Uploaded: 2023-11-16T16:56:14.862-06:00
Duration: 4 min 21 s

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Alibaba (BABA) falls after putting its spinoff, Freshippo, on hold. BABA’s 2Q adjusted EPS came in at $2.14 versus an estimated $2.11 and its revenue came in at $30.81B versus an estimated $31.01B. BABA says that they believe a full spinoff may not achieve the intended effect of shareholder value enhancement. Jenny Horne weighs in on this story. Tune in to find out more about the stock market today.

Alibaba (BABA) Spinoff On Hold, Stock Drops

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