Mark Sagent
Alibaba shares drop 9% as planned cloud spinoff is abandoned due to U.S. chip export restrictions. Company's stock falls despite positive year-over-year growth in users of Taobao and Tmall online shopping sites. Alibaba announces first-ever annual cash dividend of $2.5 billion, payable on December 21, 2023. #Ecommerce • #Market • #Alibaba
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