Alibaba surged more than 6% in pre-market trading after The New York Times reported that Jack Ma had been purchasing shares in recent months.
According to The New York Times, Tsai purchased around $151 million of Alibaba's U.S.-listed shares through Blue Pool Management in Q4, as confirmed by a securities filing. Jack Ma bought $50 million worth of Hong Kong-listed stock during the same quarter. Both already held significant Alibaba positions.