Alibaba's $10 Billion Buyback Won't Solve Its Biggest Problems
Alibaba (NYSE:BABA) just boosted its current buyback plan, which will last through the end of 2022, from $6 billion to $10 billion. The Chinese tech giant launched the original buyback plan last May, and the higher limit seems like an attempt to placate investors as the company faces tougher challenges. Those challenges include the slower-than-expected growth of its core commerce business last quarter, the suspended IPO of its fintech affiliate Ant Group, and an antitrust probe of its e-commerce business. Unfortunately, the $10 billion stock buyback won't solve those issues, for three simple...
Source: fool.com