
Shares in Chinese online video giants Youku and Tudou took a dive this week as the Beijing government cracks down on online video with stricter regulations. The new laws will require Internet video providers to pre-screen all programming before making it available.
- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
The stock market value of Chinese e-tail giant Alibaba on Tuesday briefly exceeded that of Walmart, the world’s largest retailer by revenue.
Alibaba’s market value rose to just above $247 billion during the day before closing at around $245 billion to overtake Walmart, according to Bloomberg data. Walmart ended the day with a market value of around $246 billion. In comparison, e-tail giant Amazon closed on Tuesday with a market capitalization of $137 billion.
During Tuesday’s trading session, Alibaba’s stock hit a new high of $100.50. In September, it opened at $92.70 in its stock market debut after pricing at $68.
Read more China’s Alibaba Reportedly Eyeing 37 Percent Stake in Lionsgate
The Financial Times reported that this left Alibaba just $2 billion shy of joining the list of the world’s 10 most valuable companies. Alibaba’s stock closed at $99.68.
The news came as Alibaba top executives, led by chairman Jack Ma, continued meeting studio executives in Hollywood.
Walmart’s revenue amounted to $473 billion in its most recent fiscal year, compared to Alibaba’s $8.6 billion.
Email: Georg.Szalai@THR.com
Twitter: @georgszalai
THR Newsletters
Sign up for THR news straight to your inbox every day