Alibaba's shares went to its lowest level yesterday!

Alibaba's shares went to its lowest level yesterday!
Jul 10, 2008 03:28
DREAMLIFE Points: Join Date: Sep 5, 2007 Status: offline	Yesterday, Alibaba's shares slumped to its lowest level------9.63 HK dollars. It is the first time that Alibaba had dropped below 10 Hong Kong dollars. Compared with its peak 41.8 Hong Kong dollars last year, it has reduced by 77 percent. As Alibaba went public in Hong Kong, Yahoo!, its cooperator, bought 0.776 billion yuan. WIth Alibaba's shares droping and droping, Yahoo! has lost 225 million Hong Kong dollars. The other 7 biggest investors, such as Foxconn and Ciscosystems also lost a great deal of money. In all, the eight biggest investors of Yahoo! have lost 2.328 billion yuan together. Among them, Yahoo!'s loss ranks as No.1. Facing this situation, the insiders of Alibaba also start to sell their shares. It is said that Peng Yijie (the vice president of Alibaba) had decreased his share holdings three times from June 24th to 30th, withdrawing about 2.71 million Hong Kong dollars. It seems that H-share market has been affected by A-share market on mainland too.

Jul 10, 2008 03:28

DREAMLIFE
Points:
Join Date: Sep 5, 2007
Status: offline

Yesterday, Alibaba's shares slumped to its lowest level------9.63 HK dollars. It is the first time that Alibaba had dropped below 10 Hong Kong dollars. Compared with its peak 41.8 Hong Kong dollars last year, it has reduced by 77 percent. As Alibaba went public in Hong Kong, Yahoo!, its cooperator, bought 0.776 billion yuan. WIth Alibaba's shares droping and droping, Yahoo! has lost 225 million Hong Kong dollars. The other 7 biggest investors, such as Foxconn and Ciscosystems also lost a great deal of money. In all, the eight biggest investors of Yahoo! have lost 2.328 billion yuan together. Among them, Yahoo!'s loss ranks as No.1.

Facing this situation, the insiders of Alibaba also start to sell their shares. It is said that Peng Yijie (the vice president of Alibaba) had decreased his share holdings three times from June 24th to 30th, withdrawing about 2.71 million Hong Kong dollars.

It seems that H-share market has been affected by A-share market on mainland too.

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