Alibaba Scraps Cloud Unit Spinoff, Shares Plunge

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16 Nov 2023 0 shares 1 views

Alibaba Scraps Cloud Unit Spinoff, Shares Plunge

Alibaba Scraps Cloud Unit Spinoff, Shares Plunge

Upworthy

Published 16 Nov 2023

Alibaba Scraps Cloud Unit Spinoff, Shares Plunge Shares of Alibaba Group Holding Ltd. tumbled in premarket trading in New York after it abandoned plans to spin off its cloud computing unit, blaming the Biden administration's expansion of advanced semiconductor export restrictions on Chinese…

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