Alibaba’s shares plummeted nearly 10% within minutes of rumored reports earlier this week that a man named “Ma” had been arrested for alleged national security violations.

It later turned out that “Ma” was not Alibaba co-founder Jack Ma, who has kept a low profile since he was questioned by police during Beijing’s crackdown on big business in late 2020, Bloomberg reported.

China detains man named Ma, causing jitters that wiped $ 26B off Alibaba stock comes via ChinaTechNews.com.