AABA - Altaba Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
69.52
-0.01 (-0.01%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous Close69.53
Open69.47
Bid69.51 x 2900
Ask69.59 x 1100
Day's Range69.39 - 69.58
52 Week Range54.75 - 79.18
Volume4,568,738
Avg. Volume5,616,011
Market Cap36.116B
Beta (3Y Monthly)1.77
PE Ratio (TTM)N/A
EPS (TTM)-8.10
Earnings DateAug 26, 2019 - Aug 30, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est76.00
Trade prices are not sourced from all markets
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  • Alipay is Just Another Point of Contention for Alibaba Stock Investors
    InvestorPlace

    Alipay is Just Another Point of Contention for Alibaba Stock Investors

    As the Alibaba (NYSE:BABA) stock price rallies again, something's still missing: Alipay. Alipay and its parent company, Ant Financial, aren't owned by Alibaba … yet. Still, investors already are pricing their value into BABA stock.Source: Shutterstock Indeed, my InvestorPlace colleague Wayne Duggan highlighted Alipay as a "secret weapon" for Alibaba. Wall Street analysts, as Duggan noted, have taken a similar shine to the payment product. It's been compared to PayPal (NASDAQ:PYPL) and Square (NYSE:SQ). Alipay seems to be a reasonably large part of the BABA stock bull case.But Alipay -- or at least its history -- is part of the bear case for the stock, too. That's worth remembering as the BABA stock price tries to make another run to the highs.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Alipay and Yahoo!Back in 2011, Alibaba's then-CEO Jack Ma basically took Alipay from Alibaba. Yahoo!, now Altaba (NASDAQ:AABA), which owned 43% of Alibaba at the time, saw its stock fall almost 10% as a result.For its part, Alibaba insisted that Yahoo! knew about the move, which ostensibly was made to satisfy new regulations which prohibited foreign ownership of payment companies. Yahoo! denied it had been told about the transfer ahead of time.The two companies settled the dispute in 2011 by giving Alibaba a 37.5% share of Alipay profits. That was better than nothing for Alibaba and its shareholders -- but a far cry from the 100% of earnings to which they felt entitled. * 10 Tech Stocks That Are Still Worth Your Time (And Money) Then last year, Alibaba said it would take a 33% stake in Ant Financial, Alipay's parent, as part of its rights under an amended version of the 2011 agreement. Alibaba will forego its profit sharing in exchange for the newly issued shares.But more than a year later, that deal hasn't closed. Management commentary has been limited. The regulatory process no doubt is difficult. Still, given Alibaba's history, investors could be forgiven for wondering what, exactly, is taking so long. Questions Surrounding Alibaba StockThe issuance of the 33% stake, should it close, would by no means settle the concerns surrounding Alipay and Ant Financial. The fact that Ma transferred the asset away from Alibaba and to himself suggests a risk of similar self-dealing by other executives. Meanwhile, as Alibaba admitted in filings ahead of its IPO, the supposed restriction that drove the move never materialized. For investors who struggle to trust Alibaba, the Alipay saga is a key reason why.Meanwhile, Alipay's profits evidently plunged last year, with Alibaba's share of fees from Ant Financial dropping by 85% in Alibaba's fiscal 2019. Commentary in the company's 20-F and on conference calls suggest that Alipay is investing for growth. But given that the app supposedly is already entrenched in China -- with some 700 million users, per management commentary -- that decline seems enormous, even with spending on new markets.All the while, there have been repeated steps in the direction of an Ant Financial IPO. Those efforts date to 2016. Yet a potential offering has been pulled on multiple occasions, most recently in 2018. * 7 Defense Stocks to Buy to Fortify Your Portfolio All of these issues, for bears, go to the idea that Alibaba simply isn't trustworthy -- and that the BABA stock price still doesn't reflect that problem. There simply are so many risks here. Alibaba stock isn't even ownership in Alibaba itself. A valuable business unit was pulled out of the company for reasons that still remain unclear. Alipay suddenly isn't profitable while at the same time the Chinese economy is slowing and regulators are pushing back. What else is going on here? The Case for BABA StockIt's possible these risks are just the price of being a owner of BABA stock. (Or, more accurately, a shareholder in a Cayman Islands-based variable interest entity with a contractual right to Alibaba's profits.) And it's possible that over time, China's financial system will become more open -- and more regulated. Meanwhile, as I wrote this month about iQiyi (NASDAQ:IQ), some investors see the opportunity in China as more than worth the risks.But there are going to be bumps along the way -- one reason why the Alibaba stock price has struggled to rise with any consistency. On its face, ownership of China's e-commerce leader at a reasonable, if not attractive, earnings multiple seems like a slam dunk. But whether it's Alipay, the new listing in Hong Kong, or shareholder rights, there are real concerns about Alibaba stock at the moment. And until that changes, BABA may stay stuck.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy From This Superstar Fund * 7 Stocks to Buy This Summer Earnings Season * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk The post Alipay is Just Another Point of Contention for Alibaba Stock Investors appeared first on InvestorPlace.

  • Will Alibaba Stock Soar Thanks to Its Hong Kong Listing?
    InvestorPlace

    Will Alibaba Stock Soar Thanks to Its Hong Kong Listing?

    Despite trade tensions between the U.S. and China and Altaba (NASDAQ:AABA) liquidating its stake in Alibaba (NYSE:BABA), Alibaba stock has done very well in 2019, rising 21% year-to-date. A big part of its success this year is BABA's plan to list its shares in Hong Kong.Source: Shutterstock According to Bloomberg, Alibaba has filed confidentially for a Hong Kong listing in what could be the territory's biggest listing sale since 2010. Although the final fundraising target isn't finalized, Alibaba could raise as much as $20 billion from the listing.Before it IPO'd in New York in 2014, Alibaba considered listing in Hong Kong but decided against it due to tougher ownership regulations in the territory. If Alibaba listed in New York, Jack Ma and cofounder Joseph Tsai could still retain control of the company despite not owning a majority percentage of Alibaba. In Hong Kong, Ma and Tsai would not be able to control Alibaba so effectively.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAlthough Hong Kong hasn't changed its ownership rules, Alibaba is now much more inclined to a Hong Kong listing. First, Jack Ma plans to retire and focus more on philanthropy. Second, the Chinese government seems to want more Chinese companies to list in China rather than in New York. * 10 Stocks Driving the Market to All-Time Highs (And Why) Naturally, many investors wonder how much upside a Hong Kong listing would mean for Alibaba's U.S. shares. A Listing That's Bullish, But Only Partly SoI believe Alibaba's U.S. listed stock will benefit from the listing, but only slightly. If Alibaba were to list in Hong Kong, I believe the stock would be valued at a higher multiple than its current valuation in New York. More people use Alibaba's services and websites in China and Hong Kong, and the added awareness will likely generate more buying from retail investors, which could give Alibaba a higher valuation. While that sounds like great news for U.S. owners of Alibaba, it's only partly bullish because the two exchanges are hard to arbitrage. In an ideal world, if Alibaba's stock in Hong Kong were priced higher than it was in New York, an astute investor could buy the New York stock and sell the Hong Kong stock, and hope for an eventual closing in a relatively risk-free manner. The problem is that a closing isn't guaranteed to happen in the real world. Although the Hong Kong dollar is pegged to the U.S. dollar, there isn't a Hong Kong New York stock exchange connect where an investor could easily buy the Hong Kong listed Alibaba stock and simultaneously sell the New York listed stock. Meaningful discounts between similar securities have also persisted for many years before. For a long time, South African conglomerate Naspers traded for a 30% discount to its Tencent (OTCMKTS:TCEHY) stake alone, despite Naspers owning things outside of Tencent. Are There Plenty More Reasons to Buy Alibaba Stock?There is a lot to like about BABA stock besides the fact that it will list in Hong Kong. Although it dominates e-commerce in China, BABA trades for just 19 times forward earnings estimates, which almost makes it a value stock considering its future earnings growth potential. Furthermore, Alibaba isn't just an e-commerce play. Due to various astute investments, Alibaba has exposure to China's mobile payments market with partial ownership of Alipay, exposure to China's cloud growth with Alibaba Cloud, and exposure to a variety of future markets due to its leadership in artificial intelligence. By being one of China's top two tech companies, Alibaba has the financial resources to buy or copy the business models of competitors that might disrupt it. It has the financial resources to invest in startups of promising sectors and participate in their growth as well. * 7 Stocks Being Inflated by Low Rates As for the potential long-term effect of the Hong Kong listing, the listing could improve Alibaba's fundamentals if management executes. If the company uses the money raised for productive purposes such as investing more in the cloud or artificial intelligence, Alibaba's margins and earnings-per-share could go higher and that'll benefit investors everywhere, not just in Hong Kong.As of this writing, Jay Yao did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential The post Will Alibaba Stock Soar Thanks to Its Hong Kong Listing? appeared first on InvestorPlace.

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  • Business Wire

    Altaba Announces Stockholder Approval of Plan of Complete Liquidation and Dissolution

    Altaba Inc. (“Altaba” or the “Fund”) (AABA) today announced that, at the Fund’s special meeting of stockholders (the “Special Meeting”) held earlier today, its stockholders voted to approve the voluntary liquidation and dissolution of the Fund pursuant to the Plan of Complete Liquidation and Dissolution (the “Plan”). The Fund announced on April 2, 2019 that its board of directors (the “Board”) had approved the Plan.

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  • With BABA Stock Price Down, Why Is Alibaba Selling Shares In Hong Kong?
    InvestorPlace

    With BABA Stock Price Down, Why Is Alibaba Selling Shares In Hong Kong?

    Alibaba (NYSE:BABA) reportedly is getting a Hong Kong listing. Multiple reports suggest the company is planning to sell $20 billion worth of Alibaba stock on the Hong Kong Stock Exchange. A key question, with the BABA stock price down about 18% from early May highs, is "Why now?".Source: Shutterstock As with so much when it comes to Alibaba stock, bulls and bears likely will answer the question very differently. Bulls see the company raising capital for its myriad initiatives -- and potentially raising the profile of BABA stock. Bears wonder why the company needs the cash and why it needs to do such a deal now.BABA has long been a battleground stock. The Hong Kong listing likely will only harden both sides.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Case for the Alibaba Stock OfferingThere are two broad benefits to the cross-listing. One, Alibaba's plan to list on the Hong Kong exchange could -- and maybe should -- drive the BABA stock price higher.Hong Kong-listed shares can be owned directly by Chinese investors. Those investors might see Alibaba more favorably than their foreign counterparts. And if Alibaba stock rises on the Hong Kong exchange, its New York listing might do the same, as arbitrageurs buy cheaper New York-listed shares. * 7 Top-Rated Biotech Stocks to Invest In Today That said, those arbitrageurs also would sell the Hong Kong-listed shares, potentially mitigating some of the effects of increased demand. And the two shares would not be the same: BABA stock does not offer direct ownership of the company. Rather, 'shareholders' own a stake in a VIE (variable interest entity) in the Cayman Islands.That VIE has a contractual right to Alibaba profits -- but that's not the same thing as actually owning shares of Alibaba itself. As such, it would seem almost certain that Alibaba shares in New York will trade at a consistent, if modest, discount to the Hong Kong-listed shares to account for the VIE-related risk.Still, details aside, a second listing could increase demand for Alibaba stock, particularly among China's retail investors. Smaller investors control 35% of the Chinese market, against an 8% share in the U.S. And the pending Alibaba stock split likely allows those Chinese retail investors to afford smaller positions. There is a case that BABA stock should get a bump from the two listings.The second goal, apparently, is to raise capital. Alibaba's New York IPO was the largest in history, raising $25 billion. Alibaba reportedly will bring in another $20 billion this time around. Those funds can be used for more acquisitions; building out the cloud business; or further investing behind the business.That in turn would seem to signal a longer-term rise in Alibaba stock, assuming the funds are invested well. The Case Against the OfferingSo BABA bulls no doubt see the new listing as good news. Indeed, the BABA stock price has risen modestly of late, though a stronger broad market likely plays a role as well.But for Alibaba skeptics, the offering seems curious. That's particularly true for investors who question the company's accounting, The first question is why, exactly, Alibaba needs another $20 billion. The company closed fiscal 2019 (ending March 31) with $28.3 billion in cash on its balance sheet. Alibaba owns another $24 billion or so in investment securities (not including its investments in private companies). That $44 billion war chest sits against total debt of less than $9 billion.To be sure, Alibaba does have places to spend its cash. The company's operations beyond core commerce last year -- cloud computing, digital media and entertainment, and its "innovation initiatives" -- all posted losses last year as Alibaba invested in future growth. In cloud, Alibaba is trying to replicate the success of Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT). Rival JD.com (NASDAQ:JD) is spending heavily on its supply chain.But operating losses for those segments totaled a little over $5 billion. Even with those losses, free cash flow was somewhere in the range of $15 billion, even including payments for copyrights and other intangible assets. * 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019 For those who doubt Alibaba, the offering (which reportedly will be of new shares) makes little sense. Alibaba, if its financials are accurate, has more than enough cash to fund even aggressive investments in its new initiatives. Unless there's a big acquisition planned, Alibaba is diluting its shareholders for money it doesn't seem to need. Is the BABA Stock Price Too Low?Alibaba stock is down 23% from July 2018 highs. Yet it will likely price those shares at a discount to the current U.S.-listed price (as is usually the case with these offerings). That in turn means Alibaba shareholders will see their ownership diluted at a price well below their view of the stock's intrinsic value. (Presumably, all Alibaba shareholders, outside of passive managers, believe the stock is undervalued at the moment.)It's possible the dilution will be worth it. Perhaps Alibaba has a big deal in mind. It needs to compete against JD.com and Tencent Holdings (OTCMKTS:TCEHY) and, perhaps, the more cash the better. A wider reach for the stock -- and direct ownership, as opposed to the U.S.-based VIE structure -- can help as well.But the capital raise only adds to the doubts surrounding BABA stock as well. And while short interest here is likely somewhat overstated (there are no doubt arbitrage traders who are long Altaba (NASDAQ:AABA) and short BABA), short sellers likely will see the offering as confirming their thesis, not disproving it.In short, the beauty of the listing, like Alibaba stock, is in the eye of the beholder. Bulls see more shareholders, more cash, and a higher BABA stock price. Bears see another questionable move … and maybe even another red flag. Time will tell which side has it right.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Red-Hot IPO Stocks to Buy for the Long Run * 5 Stocks to Buy for $20 or Less * 4 Dow Jones Stocks Ready to Rise Compare Brokers The post With BABA Stock Price Down, Why Is Alibaba Selling Shares In Hong Kong? appeared first on InvestorPlace.

  • Why Alibaba Group Stock Plunged 19.6% in May
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  • 3 Reasons the Selloff of Alibaba Stock Is Temporary
    InvestorPlace

    3 Reasons the Selloff of Alibaba Stock Is Temporary

    The last three months have understandably been tough for Alibaba (NYSE: BABA) stock. America's trade war with China has spooked investors. Alibaba is one of the largest and most visible Chinese companies, so the decline of Alibaba stock is entirely logical.Source: Shutterstock Surprisingly, despite a 17% selloff in the past three months, BABA stock price is still up 9.4% overall year-to-date. That performance is roughly in-line with the overall S&P 500. * 6 Big Dividend Stocks to Buy as Yields Plunge There are three primary issues driving BABA stock price lower in recent weeks. All three of them are temporary and have created an excellent, long-term buying opportunity.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Altaba Is Dumping Alibaba StockPotentially the biggest bearish catalyst for BABA stock in the past two months has nothing to do with the trade war. In early April, Altaba (NASDAQ: AABA) announced it planned to liquidate its holdings of Alibaba stock. Altaba is the company that remained after Verizon (NYSE: VZ) purchased Yahoo's internet business back in 2017. The holding company currently has an 11% ownership interest in Alibaba, so one of the largest holders of BABA stock is looking to sell its shares.Altaba began selling its BABA stock on May 15. As of the end of the first quarter, Altaba held 283.3 million shares of Alibaba stock. Presumably, the market will need to digest at least the vast majority of these shares in coming weeks.Even the best stock in the world would struggle to rise as tens of millions shares of it were being dumped into the market on a weekly basis. However, as Stifel analyst Scott Devitt noted, Altaba has absolutely nothing to do with Alibaba's business."While the Altaba liquidation creates additional near-term selling pressure, the event has no fundamental bearing on Alibaba and creates an opportunity for long-term holders, in our view," Devitt wrote.To take that point one step further, Altaba's shares have been an albatross for BABA stock for years. Investors knew Altaba would sell its Alibaba stock at some point. Getting the unloading out of the way could ultimately help boost the earnings multiple of Alibaba stock. BABA's Margins Trends Are ConcerningOne of the biggest bear arguments against BABA stock is that the company's margins are compressing. Its operating margins dropped from 15% in Q3 to 11.1% in Q4, which was reported last month. Its core e-commerce margins were just fine in Q4, as the unit's EBITA margin came in at 35%.However, Alibaba's staggering revenue growth comes at a high price.The company has been aggressively investing to grow its merchant base and expand its operations into smaller, more rural cities in China. It has also been investing in high-growth businesses such as cloud services, digital media and other innovative ideas. Last quarter, the EBITA margin of its cloud business was -2%. The EBITA margin of its digital media and entertainment business , by contrast,was about 50%.Not all BABA's investments need to produce hits, as long as it produces a couple of home runs over the long-term. In addition, for better or worse, its investment stage will come to an end soon."The level of EBITDA margin compression should ease in F2020 versus the ~10ppts of compression in F2019," Stifel's Devitt says. Stifel is projecting just a 2% decline in margins in fiscal 2020.While BABA's profits and margins are suffering, its investments are paying off huge in the revenue department. Its revenue was up a staggering 51% last quarter. Alibaba is often compared to high-growth U.S. tech stock Amazon (NASDAQ: AMZN). For some perspective on BABA's growth, Amazon 's top line rose just 17% last quarter. BABA Stock Is Not ChinaThe third and most frustrating reason for the weakness in Alibaba stock is that U.S. investors are using it as a proxy for shorting China. One round of tariff hikes after another is threatening the international business of U.S. and Chinese companies alike.Chinese companies that sell products to U.S. businesses and customers may be in trouble. Fortunately for the owners of BABA stock, Alibaba is a Chinese company that sells to Chinese customers. In fact, roughly 90% of Alibaba's e-commerce revenue in 2019 is expected to come from within China.Yet if the trade war hurts China's economy, Alibaba's business could ultimately suffer. However, the company's 51% revenue growth in Q4 suggests Alibaba is doing just fine so far in 2019.Despite Alibaba's relative insulation from the trade war, investors insist on using BABA stock to short China. As of March, S3 Partners analyst Ihor Dusaniwsky said $20.7 billion worth of Alibaba stock was being sold short, making it the single most shorted stock in the world, in terms of total dollar value.When the trade war ultimately comes to an end, these selling BABA stock short are going to have to take a hard look at covering their positions. Even after BABA's heavy investing, Altaba's dump of Alibaba stock and an unprecedented trade war, BABA stock is up 9.4% this year. At least three of the problems weighing on the stock are temporary in nature. Traders should take advantage of this buying opportunity while they can.As of this writing, Wayne Duggan was long BABA stock. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Sell Impacted by the Mexican Tariffs * 6 Big Dividend Stocks to Buy as Yields Plunge * The 10 Biggest Announcements From Apple WWDC 2019 Compare Brokers The post 3 Reasons the Selloff of Alibaba Stock Is Temporary appeared first on InvestorPlace.

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    Dorsal Capital Management’s Return, AUM, and Holdings (Part II)

    Read the beginning of this article here. As of March 31st, 2019, Dorsal Capital Management's most valuable position was also one of its newest acquisitions, Altaba Inc. (NASDAQ:AABA). The fund purchased 2.15 million shares of the publicly traded closed-end management investment company that used to be known as Yahoo! Inc. The value of the stake […]

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  • Business Wire

    Altaba Announces Planned Sale of Alibaba Shares

    Altaba Inc. (“Altaba” or the “Fund”) announced today that, in connection with its previously announced Plan of Complete Liquidation and Dissolution (the “Plan”), the Fund intends to commence selling the Alibaba Group Holding Limited’s (“Alibaba”) American Depositary Shares (the “Alibaba Shares”) on May 20, 2019. The Fund intends to sell the Alibaba Shares through open market transactions and/or through private dispositions not executed or recorded on a public exchange or quotation service. The Fund has previously disclosed that it intends to sell a minimum number of Alibaba Shares to ensure that the Fund has sufficient liquid assets to cover the amount of assets that the board of directors of the Fund (the “Board”) estimates will be sufficient to cover the maximum potential reserves that might be required by the Delaware Court of Chancery to satisfy the Fund’s known, contingent and potential future liabilities, and the Fund may sell up to 100% of its Alibaba Shares.

  • Business Wire

    Altaba Announces Meeting Date and Record Date for Special Meeting

    Altaba Inc. (“Altaba” or the “Fund”) (AABA) today announced that its special meeting of stockholders in connection with the proposed liquidation and dissolution of the Fund will be held on Thursday, June 27, 2019 at 11:30 a.m. (Eastern time), at 50 Vanderbilt Avenue, New York, New York 10017. At the special meeting, the Fund’s stockholders will meet for the following purposes: (i) to consider and vote upon a proposal to approve the voluntary liquidation and dissolution of the Fund pursuant to the Fund’s previously announced Plan of Complete Liquidation and Dissolution (the “Plan”) and (ii) to grant discretionary authority to the Board of Directors of the Fund (the “Board”) to adjourn the special meeting, even if a quorum is present, to solicit additional proxies in the event that there are insufficient votes at the time of the special meeting to approve the liquidation and dissolution of the Fund pursuant to the Plan.