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Barchart
Rich Duprey

Can Trip.com Recover After Beijing Gives It the ‘Jack Ma’ Treatment?

Jack Ma Alibaba TCOM Beijing Tripcom Ctrip JPMorgan

In 2021, Alibaba (BABA) founder Jack Ma publicly criticized Chinese regulators, sparking a massive backlash. He effectively vanished into exile for months as authorities launched an antitrust investigation into Alibaba for alleged monopolistic practices. The fallout included the scuttling of Ant Group’s planned $34 billion IPO, one of the largest ever. 

Alibaba faced intense scrutiny, paid billions in fines, and restructured parts of its business. While the company has rebounded somewhat, with its stock rising over the past year amid a broader market recovery, it still trades nearly 40% below its five-year highs. 

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