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What’s Going On With Alibaba Shares

Alibaba Group Holding Ltd – ADR (NYSE: BABA) shares are trading lower by 2.01% to $88.92 Friday afternoon. Shares of Chinese companies are trading lower amid a fall in Asia-Pacific stocks. Weakness may be driven by tensions over Taiwan, recent U.S. earnings and Japan inflation data.
byHenry Khederian
April 21, 2023
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Alibaba Group Holding Ltd – ADR (NYSE:BABA) shares are trading lower by 2.01% to $88.92 Friday afternoon. Shares of Chinese companies are trading lower amid a fall in Asia-Pacific stocks. Weakness may be driven by tensions over Taiwan, recent U.S. earnings and Japan inflation data.

What Else Is Going On?

U.S. Treasury Secretary Janet Yellen gave a speech on the U.S.-China economic relationship at the School of Advanced International Studies at Johns Hopkins University in Washington on Thursday. 

In her prepared remarks, Yellen advocated for a constructive and fair U.S. economic relationship with China in order to foster growth and innovation in both countries…Read More

According to data from Benzinga Pro, BABA has a 52-week high of $125.84 and a 52-week low of $58.01.

 
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Canopy Is ‘Cautiously Optimistic’ On Cannabis Rescheduling Following Major Step Toward Entry Into US THC Market

By Jelena Martinovic
April 15, 11:15 AM
Canopy Growth's shareholders gave a green light to the creation of a new class of exchangeable shares of the company during their special meeting held on Friday, April 12, as recommended earlier by Institutional Shareholder Services (ISS).At the meeting, shareholders passed a special resolution authorizing an amendment to the company's articles of incorporation, as amended, to create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth.A total of 32,250,578 common shares of Canopy, representing 35.40% of the issued and outstanding shares, were voted in connection with the meeting by the company's shareholders and proxyholders.he move enables the acceleration of Canopy Growth's entry into the U.S. THC market, which is forecasted to hit roughly $50 billion in 2026, the company said on Monday in a press release.

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