Alibaba's spin-off may have an impact on its stock price, but the extent of the impact depends on multiple factors, including market conditions, investor sentiment and the performance of the company itself.

Spin-offs often attract market attention and investor interest, and may increase the company's exposure and liquidity. This may lead to more investors buying or selling the stock, which in turn affects the stock price. If the market is optimistic about the prospects of the company after the spin-off, the stock price may rise; conversely, if the market is pessimistic about the prospects, the stock price may fall.

In addition, spin-offs may change the company's equity structure and governance structure, which may also have an impact on the stock price. For example, if the spin-off company is more focused on a specific business area, it may attract more attention from professional investors, thereby driving up the stock price. On the other hand, if the spin-off company faces problems such as increased competition or increased operating risks, it may put pressure on the stock price.

It should be noted that stock price fluctuations are affected by many factors, not just the spin-off event. Investors should consider the company's fundamentals, industry prospects, market environment and other factors to make wise investment decisions. If you are a shareholder of Alibaba or intend to invest in Alibaba, it is recommended that you pay close attention to the company's announcements and financial reports, as well as market trends, to make more accurate judgments.