Alibaba shares reversed course in U.S. premarket trading and rose more than 2%, according to data from MSX.COM, after previously falling more than 1%. The move came alongside news that Jack Ma has bought more than HK$600 million worth of Alibaba’s Hong Kong-listed shares over several consecutive days. The update was published by Odaily and focused on the shift in premarket sentiment for BABA.N. While the source did not provide a precise timestamp for the purchases beyond saying they took place over multiple days, it identified the buying activity as the key item on the news front tied to the stock’s rebound. No additional trading data or broader market context was disclosed in the brief.
Alibaba (BABA.N) rose more than 2% in U.S. premarket trading after earlier falling more than 1%, according to MSX.COM data.
On the news front, Jack Ma has bought more than HK$600 million of Alibaba’s Hong Kong-listed shares over several consecutive days.
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