"Alibaba's Stock Surges as Ma and Tsai Invest $200 Million"
Alibaba's shares surged after reports that founder Jack Ma and Chairman Joe Tsai have been buying up shares in the company, with Ma purchasing $50 million worth of stock and Tsai buying about $151 million worth in the fourth quarter through his family investment vehicle. The share purchases reflect their belief that the business is undervalued after its stock fell sharply from its 2020 peak, as Alibaba's US-traded shares gained as much as 6.6% in New York, the most since last August.