Bloomberg reported on Tuesday that Chinese e-commerce giant, Alibaba (NYSE: BABA) is doing a strategic review of its video streaming platforms Youku and Tudou. One of the options that Alibaba is looking at is to inject these assets into the Hong Kong-listed company, Alibaba Pictures Group.
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This strategic review comes as the company is looking at splitting its businesses into six business groups with each of the groups having the ability to go public and raise funding from outside. Last month, the company also announced a surprising management shakeup with Current Chairman and CEO Daniel Zhang being replaced by Eddie Wu, effective September 10, 2023.
Overall, analysts are bullish about BABA stock with a Strong Buy consensus rating based on 15 unanimous Buys.
