Alibaba Drops, SoftBank Bond Sale, Bitcoin Rally | Stock Movers
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Alibaba (BABA) is tumbling after announcing a plan to raise about HK$80 billion ($10.2 billion) from a share sale. The share placement is expected to dilute earnings and hurt stock performance in the near term, analysts said. Meanwhile, the fundraising will help drive AI-led growth and the impact on earnings will be limited if the company can improve AI payoffs, they added. The tech and chip sectors are seeing a broader selloff globally. - SoftBank (SFTBY) is moving on news it plans a record ¥1 trillion retail bond sale to raise funds for its investment commitments to OpenAI. - Bitcoin (BTC) is continuing its rally. Spot Bitcoin exchange-traded funds had their strongest weekly inflow in 10 months last week as the original cryptocurrency surged.
More from Australia
Capital battles heat up as takeover offers challenge listed housing operators
The equities fueling the next infrastructure supercycle
Crypto networks collide with sanctions in a fight for financial access
American Tungsten completes Nexus acquisition for Pinnacle MOU
Butn extends MYOB invoice financing agreement to 2027
Celsius Resources updates market on US$5M dispute