"Wouldn't that be giving them a bargain if we buy at a high price? That would be a huge loss for us!" Jack Ma said, clearly dissatisfied.
However, his dissatisfaction changed nothing. In fact, while TaoBao's stock price did rise slightly after the event, the increase was minimal, and the trading volume had shrunk significantly.
After all, those who wanted to sell had already sold. A portion of retail investors were still holding on, but only because the stock price was too low to sell without taking a massive loss.
The so-called "pump and dump" scheme never materialized. It seemed the other party was only buying, not selling, indicating they intended to hold the stock for the long term.
The one buying up TaoBao stock in large quantities was, of course, Yi Anguo, who had now acquired 45.6 percent of the company's shares.
