Home Businessuite News24 International Jack Ma Alibaba May Soon Reclaim Title Of World’s Most Valuable Online Retailer; A Position Now Held By The Jeff Bezos Controlled Amazon.
Jack Ma Alibaba May Soon Reclaim Title Of World’s Most Valuable Online Retailer; A Position Now Held By The Jeff Bezos Controlled Amazon.

Jack Ma Alibaba May Soon Reclaim Title Of World’s Most Valuable Online Retailer; A Position Now Held By The Jeff Bezos Controlled Amazon.

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Alibaba the Chinese online ecommerce juggernaut, headed by Jack Ma, could soon reclaim the title of world’s most valuable online retailer; a position now held by the Jeff Bezos controlled Amazon.

This as Alibaba’s stock rose nearly 5% to an all-time high today after the company reported sales and profits for its second quarter that easily topped Wall Street’s forecasts.

Shares of Alibaba have surged more than 90% this year, and is now worth about US$420 billion, putting it closer to Amazon, worth US$465 billion, which is having a pretty good year following a 30% jump in its stock this year.BM