ByteDance surpasses Meta
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Over the past 12 months, Alibaba 's ( BABA 2.71%) stock rose nearly 50% as the company impressed investors with its stabilizing growth and artificial intelligence (AI) efforts. But even after that rally, the Chinese e-commerce and cloud leader's stock price remains 65% below its all-time high from October 2020.
TikTok and its parent company ByteDance are reportedly planning layoffs, with potential impact on TikTok Shop staff. The move comes amid internal restructuring and ongoing challenges in the US market,