|Bid||0.00 x 1300|
|Ask||0.00 x 900|
|Day's range||74.43 - 75.46|
|52-week range||74.43 - 121.30|
|Beta (5Y monthly)||0.67|
|PE ratio (TTM)||10.43|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Alibaba Co-Founder Jack Ma (BABA), who stepped away from day-to-day operations of the company in 2020, surprised employees by replying to a staff post on Alibaba’s internal forum. Ma urged the company to go through a course correction, pointing towards, and praising, e-commerce competitor PDD Holdings Inc. (PDD). Yahoo Finance Anchors Seana Smith and Brad Smith break down the latest development with the company and what it means moving forward. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
(Bloomberg) -- Alibaba Group Holding Ltd. is set to lose its position as China’s most valuable e-commerce firm to eight-year-old upstart PDD, a watershed moment for an internet industry that Jack Ma’s iconic firm dominated for more than a decade.Most Read from BloombergSaudi Arabia Offers Iran Investment to Blunt Gaza WarCharlie Munger, Who Helped Buffett Build Berkshire, Dies at 99Henry Kissinger, Secretary of State in 1970s Crises, Dies at 100Bill Ackman Bets Fed Will Cut Interest Rates as Soo
When I was preparing for the earnings results of PDD Holdings on Tuesday, I noticed that its market cap was already 80 per cent that of rival online retailer Alibaba. As I had a strong feeling that PDD’s earnings would beat expectations, I texted a friend at the company and joked, “Do you think PDD’s market cap will surpass Alibaba soon?” He laughed and said, “If it does, I think it says more about them than us.” PDD’s triumph came more quickly than expected.