That doesn't mean that investors will convert their shares to sell them? Where is the logic in that? Why would investors convert their shares to a less liquid market while paying a conversion fee?! I don't see the logic in that. If there is news about Chinese companies possibly being delisted then of course some investors will sell their stocks and some will convert their shares. The 50 analysts offering 12-month price forecasts for Alibaba Group Holding Ltd have a median target of 139.33, with a high estimate of 186.58 and a low estimate of 78.04. It also declined after about 1.2 billion and 2 billion shares were converted respectively in June and March last year, data show." Values delayed up to 15 minutes Today's Range 91.15 - 92.95 52 Week Range 60.25 - 118.50 Profile Charts. In 2003, Alibaba launched Taobao Marketplace (), offering a variety of products for retail sales. Alibaba Group Holding Ltd 9988.HK Latest Trade 92.25 HKD -0.1 -0.11 As of Sep 6, 2023. In 2013, launched a direct channel that was responsible for 30 million in daily transaction value. The stock dropped nearly 13% over the following 10 trading days, according to Bloomberg calculations. went public at the Hong Kong Stock Exchange in 2007, and was delisted again in 2012. Reasons to be bullish According to Samuel Le Cornu, CEO and co-founder of Stonehorn Global Partners, there are still reasons to be bullish on the stock. In September, Alibaba holders converted ADRs into about 670 million Hong Kong shares in a day. While the possibility of Alibaba delisting from the US looms over the company, investors are increasingly likely to sell their ADR shares for a Hong Kong stake. Since then, the company’s shares in New York and Hong Kong have been on. Previous conversions of a similar scale have been followed by periods of share price declines, according to data compiled by Bloomberg. Alibaba has been hit hard since getting caught up in a sweeping crackdown in China on its once booming technology sector. "The move may signal that some players could reduce their stakes soon, said Steven Leung, executive director at UOB Kay Hian Hong Kong Ltd.
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