Shares of Alibaba Group Holding Ltd. BABY,
rose 7.3% on Wednesday after a 6-week high in pre-market trading, making it to a fifth consecutive on-track profit, after co-founder Jack Ma made his first public appearance in made almost three months. The protest in the China-based internet giant’s shares puts it on course to see at the highest price seen during the regular sessions since December 4th. A spokesman for the Jack Ma Foundation confirmed to The Wall Street Journal that Ma was attending the online ceremony of the annual Rural Teacher Initiative meeting on January 20th. Ma has not been seen in public since October 24, when Ma spoke at a financial forum and criticized regulators for stifling financial and technological innovation, as reported by the WSJ. This has led regulators to derail Ant Group Co., which controls Ma, from the public. Since Ma’s last public appearance until Tuesday, Alibaba’s share has fallen by 18.8%, while the iShares MSCI China ETF MCHI,
increased by 13.0% and the S&P 500 SPX,
it advanced by 9.6%.
