Alibaba's market value drops to $201B, about half of Tencent's $391B, as it faces sluggish demand and increased competition; Alibaba was valued at $850B in 2020 (Charlotte Yang/Bloomberg)

November 17, 2023

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Charlotte Yang / Bloomberg:

Alibaba’s market value drops to $201B, about half of Tencent’s $391B, as it faces sluggish demand and increased competition; Alibaba was valued at $850B in 2020 — – Companies’ values widen after Alibaba cloud announcement — Alibaba now trades at eight times forward earnings multiples

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