Hong Kong CNN —Alibaba founder Jack Ma has called for “change” as the stellar performance of a competitor causes a stir at his e-commerce company.
On Wednesday, the billionaire responded to a recent rally in the stock of PDD (PDD), the group behind Chinese online shopping giant Pinduoduo and US-based retail upstart Temu.
That has pushed up the company’s stock in New York dramatically, taking it 18% higher Tuesday and another 2% higher Wednesday.
As a result, PDD’s market cap has soared to $188.3 billion, putting it just below Alibaba’s (BABA) $189.9 billion.
I believe that everyone in Alibaba today is watching and listening,” he wrote in a comment, according to the source.
Persons:
Hong Kong CNN —, Jack Ma, PDD, Ma, ”, ” “, Chen Lei
Organizations:
Hong Kong CNN, Temu
Locations:
China, Hong Kong, New York, Hangzhou, Alibaba, United States, Australia