Alibaba (BABA) Stock Rises as Jack Ma Buys Over HK$600 Million in Shares

TLDR

• Alibaba founder Jack Ma purchased more than HK$600 million worth of Hong Kong-listed Alibaba shares over consecutive days.
• The purchases signal Ma’s confidence in Alibaba’s AI ambitions and long-term growth.
• Alibaba chairman Joe Tsai and CEO Eddie Wu also bought shares, spending a combined HK$202 million over two days.
• The buying follows Alibaba’s first share issuance since 2019.
• Alibaba’s Hong Kong-listed shares (9988) rose 1.5% in pre-market trading Tuesday.

Jack Ma is putting his money where his mouth is. The Alibaba founder bought more than HK$600 million worth of the company’s Hong Kong-listed shares over consecutive days, according to sources familiar with the matter.

The purchases were made on the open market across back-to-back trading sessions. Alibaba’s Hong Kong-listed stock (9988) rose 1.5% in pre-market trading on Tuesday following the news.

Alibaba Group Holding Limited, BABA

One source close to the matter said the buys reflect Ma’s “strong confidence for Alibaba to realise its AI ambitions and capture the long-term growth opportunities ahead.”

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