Aug. 26 at 8:38 AM
$WRD For those with concerns about Chinese stocks, the CEO, COB and Founder of BABA bought
$102MM (USD value) of stock.
This will get the attention of US investors.
Chinese stock indexes are not that far off their ATH from 2021.
WRD is not a problem bcs it is a Chinese company. WRD is where it is bcs Q1 was
$3MM in product revenue, another earnings miss,
$250MM in annual net losses,
$54% of all rev earned since the IPO as an accts receivable and very slow scaling.
BABA might trigger some interest in other Chinese stocks on that very large buyback?