Wed Sep 25 09:24:45 UTC 2024: ## 1832 Asset Management Cuts Alibaba Holdings in Second Quarter
**New York, NY – October 26, 2023** – 1832 Asset Management L.P. has reduced its stake in Alibaba Group Holding Limited (NYSE: BABA) by 13.6% during the second quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The investment firm now owns 69,569 shares of the Chinese e-commerce giant, a decrease from its previous holding of 80,624 shares.
This move comes amidst a period of uncertainty for Alibaba, with the company facing regulatory challenges in China and broader macroeconomic concerns. The reduction in holdings by 1832 Asset Management could be interpreted as a sign of cautiousness towards the company’s future prospects.
The news of the reduced holding follows a recent decline in Alibaba’s stock price. The company has faced headwinds in its core business, particularly from increased competition and a slowdown in consumer spending in China.
It remains to be seen how Alibaba will navigate these challenges in the coming months, but the recent move by 1832 Asset Management suggests that some investors are taking a more cautious approach towards the company’s future.
First Piper 