Alibaba Group Holding Limited is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology.

Recently, Shares of Alibaba Group Holding Ltd listed in Hong Kong dropped over 7% to HK$212.20 ($27.37) following the companys raise in its share repurchase plan to $10 billion from $6 billion.

Alibaba in a statement said, "This Share Repurchase Program will be effective for a two-year period through the end of 2022."

China’s market regulator began an antitrust investigation into Alibaba last week, part of an accelerating crackdown on anticompetitive behavior in China’s booming internet space.

Financial regulators on Sunday also pushed Ant Group Co, an Alibaba affiliate, to rectify financial regulatory violations, after Chinese regulators abruptly rejected Ant’s blockbuster $37 billion initial public offerings in Shanghai and Hong Kong.

Alibaba competing internet companies Meituan fell over 5% and JD.com dropped more than 2%.

source: Reuters

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Tesla has announced its plans to sell additional shares worth up to $5 billion. Tesla’s shares have climbed to record levels this year, making the company more valuable than traditional automotive firms such as Toyota.

This is the third time the company has raised shares this year. Also, the company says the sales will take place from 'time to time'. It had two other multi-billion dollar sales at the start of this year when the company was more in need of it. 

As the profit raised, cash reserves have also increased in Tesla. The shares are being run-up this year for high profitability. It had $14.5 billion in cash on its books at the end of September, which is more than double what it had at the start of this year.

Tesla's shares are up by almost 668% this year. Also, Tesla's market value topped $600 billion for the first time, making it the most valuable automaker so far. Its shares are worth roughly as much as the next seven most valuable global automakers combined - Toyota, Volkswagen, Daimler, General Motors, BMW, Honda, and Hyundai.

Source: CNN

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