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Will Alibaba's stock price rise by more than 5% by June 30, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
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Story
Alibaba to Sell Intime Department Store Chain for $1 Billion, Booking $1.3 Billion Loss in Restructuring to Focus on E-Commerce
Dec 17, 2024, 09:09 AM
Alibaba Group is set to sell its Chinese department store chain, Intime, as part of a strategic restructuring aimed at refocusing on its e-commerce operations. The sale is expected to result in a significant financial impact, with the company anticipating a loss of approximately $1.3 billion from the transaction. The decision to divest Intime follows a broader trend within Alibaba to streamline its retail business, which has faced challenges in recent years. The company has agreed to sell its entire stake in Intime for around $1 billion, marking a notable shift in its business strategy. This move is part of Alibaba's ongoing efforts to adapt to changing consumer behaviors and enhance its focus on online retailing.
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Increase by more than 10% • 25%
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