|Bid||306.75 x 800|
|Ask||307.00 x 1800|
|Day's Range||303.41 - 313.81|
|52 Week Range||168.12 - 313.81|
|Beta (5Y Monthly)||1.50|
|PE Ratio (TTM)||32.79|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Yahoo Finance's Julie LaRoche has details on Alibaba's latest move to gain ground on Walmart in China.
Alibaba Group said today it will spend about $3.6 billion to take a controlling stake in Sun Art, one of China’s largest big-box and supermarket chains. After the transaction is complete, Alibaba Group will own 72% of Sun Art. As in other countries, COVID-19 lockdowns increased demand for online food orders in China, drawing in shoppers who had still preferred to buy groceries in person.
China e-commerce leader Alibaba will invest $3.6 billion for a controlling stake in Sun Art Retail Group, a leading supermarket operator in China, continuing its expansion into retail.