Additional American depositary share registration in the U.S. was translated by Citigroup`s analysts as SoftBank Group intention to sell part of its stake.
Softbank was a pre-initial public offering investor in BABA, owning 5.39 billion ordinary Alibaba shares, or a 24.8% stake,
The can drop to the $109 support, if not even lower.
fud. its great place to buy. very good support under us
chinmayamahapatra
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The support will break if SoftBank Sells. It owns 25%. There is a very high chance as Softbank needs money because of their own stock’s poor performance.