Keep an eye on this:https://www.cnn.com/2020/12/24/tech/alibaba-china-antitrust-investigation/index.html
Hong Kong (CNN Business)China has launched an antitrust investigation into Alibaba (BABA) as it steps up scrutiny of the country's rapidly growing internet firms.
The State Administration for Market Regulation, China's top market regulator, said Thursday that it would probe alleged monopolistic behavior by Alibaba, Jack Ma's online shopping and cloud computing giant. It gave few details but said it would investigate the company's practice of requiring merchants to sign agreements that prevent them selling products on rival platforms, known as "choosing one from two."
Separately, the People's Bank of China announced that the country's four financial regulators will summon Ant Group, Alibaba's financial affiliate, to a meeting in the coming days. The meeting would "guide Ant Group" to implement financial supervision and regulate its services, the central bank said in a statement.
So Jack Ma was talking big **** about the CCP's regulatory practices, which pissed Winnie the Pooh
Xi Jinping off and now he's targeting Alibaba. The dude personally stopped the IPO offering for AntGroup because he's in his feelings about Ma getting out of pocket.
I don't know how this will impact the Nets in any way, but Joe Tsai is Alibaba's 2nd largest shareholder. Something to keep in mind as that luxury tax bill begins to skyrocket