Why Alibaba's Stock Is Surging After Its Earnings Missed Expectations

Yongyuan Dai/iStock Unreleased via Getty Images In 2019, Jack Ma, the "chief founder" of Alibaba Group Holding Limited (NYSE:BABA), stepped down as chairman and gave way to co-founder Daniel Zhang Yong who rapidly went on to enter the roster of Time Magazine's 100 most influential people in 2020. Alibaba's sprawling business empire was long considered to be driven by those in the chairman's seat. This, however, changed in April 2023 when the company announced that it would split into 6 units - each of which ...