Alibaba reduces its holdings in Cloud Music – real-time financial news

Alibaba Group (9988) recently conducted an important equity transaction. According to equity disclosure documents, they reduced their holdings of 2.2 million shares in Cloud Music (9899) on April 17. The average price of this transaction was 87.13 yuan, which reduced Ali's shareholding ratio from 9.35% to 8.2%, and the amount involved was approximately 191 million yuan.

Alibaba reduces its stake in Cloud Music

This holding reduction transaction attracted market attention, and investors speculated on Alibaba’s motives and future direction. Although Alibaba still holds a considerable stake in Yun Music, this reduction will undoubtedly have a certain impact on Yun Music's stock price.

market reaction

As soon as the news came out, Cloud Music's stock price was immediately affected, and the stock price fell to a certain extent. Investors are piling up the numbers. One after another