As Alibaba Basked In Attention, Shares In Its Social Media Arm Weibo Tanked Yesterday
Alibaba Group, China’s biggest e-commerce company, basked in the attention of potential new investors around the world yesterday, May 6th, that were awaiting the details of its IPO prospectus that finally came out after the close of U.S. stock trade. Existing owners of shares in Weibo, China’s Twitter TWTR -2.89%-equivalent whose backers include Alibaba, didn’t have such a great day. Investors bid the price of Weibo’s Nasdaq-listed stock down by 6% from last Friday.
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