In November, Alibaba’s share price was upwards of $120, but the Hangzhou-based firm’s share price has recently dropped below the IPO price of $68 per share, according to the South China Morning Post. Ma said:
“We have unlucky things happening everyday and I’ve got used to that.”
At a market-sensitive time, Alibaba has some investors questioning the firm’s future. Some analysts are saying that Alibaba’s business model might prove to be too complicated and is too broad for any niche market.
Ma told a panel at “Summer Davos”:
“No internet company can be a champion for continuous five years. It’s a tough business.”
While Ma didn’t cite any of his competitors by name, he said:
“The good thing is we have too many smart people and the bad thing is also because we have too many smart people to compete with.”
Although Ma tries to lead his company with a positive mindset, this wouldn’t be the first time he has complained about being unlucky.
Last year in 2014, Ma broke headlines because he told CNBC that it was exasperating to be as rich as he is. He said “I don’t know which magazine said I’m the richest guy of China. This is a great pain.”
In June, Ma claimed that “twelve dollars a month is better than $25 billion a year.”