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Alibaba trims stake in Xpeng for second time in December
Alibaba reduced its stake in Xpeng for the second time this month, according to a regulatory filing on Tue.
Alibaba reported a 9.2% stake in the stock as of Dec 15, compared with its stake of 12.5% more than a week ago.
The Chinese e-commerce giant had cut its holdings in Xpeng's Class A ordinary shares by about 6.5%, as of Dec 6.
Xpeng, which faces extensive competition in the vast Chinese EV market, posted a wider-than-expected third-quarter operating loss in Nov due to costs stemming from a production ramp-up.
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bullrider_21
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MonkeyGee : Think it's a forced trade
bullrider_21 OP MonkeyGee : Don't think so. It improves Alibaba's cashflow.