Subject: Re: Alibaba Reorganization
The core commerce division is the only one profitable among the six, which alone would report higher earning and cash flow and would be worth about 50% more than the current market cap. The valuation of the other five and 33% ownership of Ant group would probably add $100-200 billions, plus $60 billions in cash and equity investments in other other companies. I would value BABA at about $200/share, and that's the point I would consider lighten up depending on economic and geopolitical situations in China.