3/7/23 BABA shares outstanding actually dropping, so buybacks are having an effect.

Hey everyone. Quick update on BABA. I noticed in the past that although BABA was doing buybacks, their shares outstanding weren’t actually changing much at all. However, with the recent buyback program, their shares outstanding are actually dropping significantly. Here’s a graph from macrotrends highlighting this:

Notice how they are aggressively buying back more shares recently, which was when BABA’s price was much lower (in the 60-80 range). Perhaps that’s why the stock refused to drop below 60.


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