That is seeing Alibaba fall roughly 8% in pre-market trading now as Jack Ma's family trusts intend to reduce their holdings by 5 million shares each. The sale will go through on 21 November, according to a disclosure from the SEC today. Just keep in mind that Alibaba is slated to report its quarterly earnings later today and its shares in Hong Kong closed a little over 2% lower earlier.
Alibaba shares down in pre-market as Jack Ma's family plans to sell down shares
- Ma's family trusts, JC Properties, and JSP Investment, plan to sell a total of $870.7 million worth of shares
