Meme-stock investor Ryan Cohen has amassed a stake in Alibaba Group Holdings and is now actively pushing the Chinese e-commerce giant to expand its share...
Meme-stock investor Ryan Cohen has amassed a stake in Alibaba Group Holdings and is now actively pushing the Chinese e-commerce giant to expand its share buyback program, The Wall Street Journal and other media outlets reported late on Monday.
Cohen... Meme-stock investor Ryan Cohen has amassed a stake in Alibaba Group Holdings and is now actively pushing the Chinese e-commerce giant to expand its share buyback program, The Wall Street Journal and other media outlets reported late on Monday. Cohen reportedly first contacted Alibaba in August last year to tell the board its shares were undervalued and that it could achieve double-digit sales growth and up to 20% growth in free cash flow in the next five years.
Cohen has reportedly also told the board that the plan could be boosted to $60 billion, and added that Apple’s AAPL buyback program, where he owns more than $800 million worth of shares, could be mirrored.
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