Alibaba Group Holding Ltd (NYSE:BABA)
On Thursday, Shares of Alibaba Group Holding Ltd (NYSE:BABA), gained 1.11% and is at $78.56 in the Real-Time trading session. The firm opened its current trade at $78.06. The total volume traded for the day is 7.13M shares, as compared to its average daily volume of 19.56M shares. The stock is floating in a range of $77.40 - $79.15. The stocks hold the market capitalization of $197.43B.
Today, Alibaba Group Holding Limited (NYSE:BABA) declared the official launch of its Entrepreneurs Fund for Taiwan, with the objective to support the aspirations of entrepreneurs who wish to take advantage of the resources offered by Alibaba’s ecosystem in e-commerce, logistics, mobile platforms, cloud computing and financial services.
The Taiwan Entrepreneurs Fund is a not-for-profit initiative of Alibaba Group. The mission of the Fund is to assist entrepreneurs realize their dreams and visions for a Taiwan that is vibrant and engaged regionally and globally.
The Fund will invest in qualifying companies in the start-up, growth and expansion phases of the company life cycle. Qualifying businesses will leverage the platforms in the Alibaba ecosystem to offer products and services to Greater China and the world. NT$10 billion has been earmarked for the Taiwan Fund.
A number of accomplished business and community leaders will join the board of directors of the Fund. They will oversee the governance and provide planned direction of the Fund. The board of directors of The Taiwan Entrepreneurs Fund comprises Mr. Charles Yen, co-founder and principal of the AAMA Taipei cradle program, Mr. Joseph Tsai, senior executive vice president of Cathay Financial, and Mr. Danny Chiu, chairman and CEO, Morrison Express Corp.
Mr. Andrew Lee, former chief financial officer of EnTie Bank, will serve as executive director of the Taiwan Fund. Highly practiced in finance and administration, Mr. Lee served international and Taiwan financial institutions. He specializes in fundraising, mergers & acquisitions, organizational development, and financial and risk administration.
The mean estimate for the short term price target for Alibaba Group Holding Limited (NYSE:BABA), stands at $94.77 according to 42 Analysts. The higher price target estimate for the stock has been calculated at $116.86 while the lower price target estimate is at $59.93.
Analysts mean recommendation for the stock is 1.80. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the Peoples Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
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