Alibaba surges after Jack Ma, Tsai buy $200M company stock: report

News Snapshot:

Alibaba's (NYSE:BABA) stock soared about 7% on Tuesday after the New York Times reported that co-founder Jack Ma has been buying up shares in the company. Ma and Alibaba Chairman Joe Tsai both have been buying shares, the report added, citing people with knowledge of the matter. Ma, who stepped down as Alibaba's executive chairman in 2019 but remains a major shareholder, purchased about $50M worth of Hong Kong-traded stock in the quarter, the report noted, citing a person familiar with the matter. Tsai bought around $151M worth of Alibaba's U.S.-traded stock in the fourth quarter, through his Blue Pool...