According to sources, Alibaba Group Holdings (BABA:NYE), the Chinese e-commerce giant, is still significantly influenced by its founder Jack Ma.
While relinquishing his post as Chairman and CEO of the firm in 2019 and travelling outside of China, Ma reportedly played a significant role in restructuring Alibaba into six independent units.
This action is believed to be a response to the Chinese government’s heightened scrutiny of digital firms and is aimed to maximise shareholder value while decreasing government monitoring.
Ma’s persistent influence on the company’s choices has attracted attention, and it is believed that his recent return to China has political objectives.
In spite of these occurrences, BABA stock forecast is still regarded as an excellent investment, with a consensus rating of Strong Buy on Stock Target Advisor and a potential upside of 43.5% based on the average price projection. Year-to-date, the price of BABA shares has climbed by 12.4%.
