Two major insider buys this morning—[BABA's CEO dumping $5M into stock](https://www.sec.gov/Archives/edgar/data/1577552/000119312526361711/xslF345X06/ownership.xml) and a $10.3M officer accumulation—but the cash generation tells a different story. BABA trades on annual revenue with net income ( margin) and in operating cash flow, down QoQ.

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