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(Yahoo)   A year ago as stock in his company Alibaba was hitting an all-time high, Jack Ma, aka "The Chinese Jeff Bezos" gave a speech criticizing China's financial regulators. The regulators retaliated. A year later, Alibaba has lost $340 BILLION in value   (news.yahoo.com) divider line
    More: Scary, Stock, Stock market, Alibaba Group Holding, market capitalization, shareholder value, technology titan, biggest wipe, Hong Kong  
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278 clicks; posted to Business » on 25 Oct 2021 at 3:20 PM (30 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



17 Comments     (+0 »)
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2021-10-25 11:15:04 AM  
Chinese billionaires found out: Do not fark with the CCP; they will cut your balls off without thinking twice about how the economy's going to suffer.
 
2021-10-25 11:34:23 AM  
Must be nice to be able to blame your stock price on the CCP.
 
2021-10-25 11:50:24 AM  
Because 340 billion sounded like a big number, I went and looked. And ok, it's down about 50% over the last 12 months.

So it's far from wiped out.

/your frequent reminder that the stock market is not the economy
 
2021-10-25 12:06:41 PM  
Isn't this what we want to do here?  Have the government commandeer the billionaires' monies?
 
2021-10-25 12:49:44 PM  

The Googles Do Nothing: Isn't this what we want to do here?  Have the government commandeer the billionaires' monies?


Not exactly.
 
2021-10-25 3:29:15 PM  
I bought this stock on the same day I bought Mercado Libre, 3 and a half years ago.  BABA is off 5+% and MELI is is up over 300%.  Shoulda bought more Mercado Libre.
 
2021-10-25 3:34:32 PM  
looks like billionaires can't buy off the Asian government like you can in the USA
 
2021-10-25 3:50:25 PM  
They also disappeared him for 3 months. I'll bet that concentrated his mind wonderfully.
 
2021-10-25 3:55:03 PM  
Don't Poke The Bear
 
2021-10-25 4:08:29 PM  
Who's Steve Bezos?
 
2021-10-25 4:17:41 PM  

Rapmaster2000: I bought this stock on the same day I bought Mercado Libre, 3 and a half years ago.  BABA is off 5+% and MELI is is up over 300%.  Shoulda bought more Mercado Libre.


Just hold on to BABA, it's not going to dissappear and it will bounce back. China implementing stricter regulation on its financial, tech and real estate sectors i is not actually a bad thing in the long run and was in fact long overdue.
 
2021-10-25 4:59:17 PM  
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2021-10-25 5:11:36 PM  

ltdanman44: looks like billionaires can't buy off the Asian government like you can in the USA


Wow, I've seen some stupid comments on Fark, but yours has to be among the tops. You do realize that the CCP operates like the mafia - CCP officials are given no-show jobs in every company and they make sure their generals and party higher-ups get paid before you ever do? And don't ever say a bad word against the state. But I'm sure you'd love to live there, as other Farkers have pointed out, they have great train service in China - if your social credit score is good enough. And who cares what the government's doing to its own citizens as long as the trains run on time. Right?!
 
2021-10-25 6:35:02 PM  
Ha Ha
 
2021-10-25 7:26:16 PM  
So much for taxing that "wealth."

$350 billion evaporated like it was nothing.

From ashes we come, to ashes we'll go.
 
2021-10-25 9:47:05 PM  
Maybe China shoulda listened to Jack
 
2021-10-26 3:45:23 PM  
习近平 says "I have used my hammer, don't make me use the sickle, Jack."

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