Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Palumboism on August 27, 2019, 05:39:13 PM
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He's a little difficult to listen to, but he knows whats really going on in China.
Case in point, Jack Ma being forced to sign over his shares in Alibaba and retire.
BEIJING — Chinese e-commerce tycoon Jack Ma has surrendered his ownership of entities that hold Alibaba Group Holding Ltd.’s business licenses in China.
Ma, 54, relinquished his ownership in Alibaba’s main “variable interest entities,” Alibaba confirmed Monday. Those entities typically allow Chinese technology companies to take investments from overseas entities. The news was earlier reported by the Financial Times.
The change was made to reduce the administrative burden on Ma and was disclosed in a filing with the Securities and Exchange Commission in July, Alibaba
https://www.marketwatch.com/story/jack-ma-gives-up-ownership-of-alibaba-entities-for-chinese-business-licenses-2018-10-01 (https://www.marketwatch.com/story/jack-ma-gives-up-ownership-of-alibaba-entities-for-chinese-business-licenses-2018-10-01)
Make no mistake, this was not Jack Ma's own choice, he was forced to do this by the government.
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https://aeon.co/essays/what-chinese-corner-cutting-reveals-about-modernity
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Yes, but Ma had to sell his shares because American hedge funds were using its ADRs to short the Chinese market.
BABA is the poster child of how corrupt Wall Street is: It has an analyst price appraisal of $260, it's trading at a $100 discount and no one knows why even though the company keeps beating earnings time and time again.
It's a one-two punch that eventually the retail folk end up paying for. It's a disgrace. It's similar to what is happening to Tesla or BYND, two cutting edge companies that will dominate their fields in 10-15 years time and are being subjected to extreme shorting pressure that isn't trading related but has more to do with conventional (oil, car making and beef/chicken) companies betting against these new industries so as to buy themselves another 5-10 years to assess how deep in bullshit territory they are. At one point, BYND had a short to daily float percentage of 65%, even though borrow rates were in the 400% category. And, of course, the SEC saw nothing of this. So, it's no surprise the Chinese authorities are stepping in: they are going to cancel the ADRs and issue CDRs. So there you go, can't play with the toy anymore.
It's all SEC's fault. No one else's. The SEC's.
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Deep throat IPO...
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China's a $10 Trillion economy and they've printed $30 Trillion in Renminbi.
Hong Kong is where the Chinese government employees perform their money laundering.
45 percent of loans at all the banks are bad.
If you're a billionaire in China, there are only two paths for you - death or jail.
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China is an example of modern day fascism not communism.