Alibaba shares buy back has resumed

$Alibaba (BABA.US)$
The table below tracks the daily share buyback activities by BABA as disclosed in HKEX filings. As BABA ADR price is now below $100, BABA has resumed the share repurchase. BABA typically buys back $20 million / day (equivalent to 1-2% of daily volume) when the ADR price is between $90-$100. If the ADR price falls below $90, the repurchase amount will increase to $40-$60 million / day (equivalent to ~6% of daily volume).

The temporary price correction in BABA is beneficial to long term shareholders. I would rather BABA buy back shares at a cheaper rather than a more expensive price. BABA at $120 does me no good other than feeling psychological richer (it's only paper gain), but BABA at $90 actually makes me richer due to the share buyback. BABA still have $22 billion left in the share buyback program. That's enough to buy back $20 million / day for 3 years and will reduce outstanding shares by 10%. Not bad a deal at all.