On August 24, Alibaba fell 4.25% in pre-market trading, trading at $114.4/share, with turnover of $4.8687 million.

On the news front, Alibaba announced the placement of 710 million new shares at HKD 112.70 per share, raising approximately HKD 80 billion (about USD 10.2 billion), marking the largest-ever share placement in Hong Kong stock market history. The placement price represents an approximately 8.4% discount to the previous closing price, with new shares accounting for roughly 3.57% of the enlarged share capital, creating dilution pressure on existing shareholders. All net proceeds will be invested in full-stack AI capabilities and infrastructure development.

Simultaneously, renowned investor Michael Burry, known as the Big Short, publicly expressed bearish views on Alibaba, arguing that its valuation is excessive and that its return on invested capital will continue to decline, stating he will not re-establish a position. Major brokerages including Bank of America and Nomura maintained their Buy ratings, with Nomura noting that dilution remains below 4% and the negative impact is largely priced in. Earlier in the Hong Kong session, Alibaba shares fell nearly 10%, briefly breaking below the placement price.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)