原因也有可能是：
1、高德软件是通过增发新股让阿里巴巴集团入股的，老股东被稀释了
In addition, AutoNavi announced that the parties have entered into definitive agreements whereby Alibaba, through a wholly owned subsidiary, will invest approximately $294 million in newly issued preferred and ordinary shares of the Company, representing approximately 28% of the Company's total issued and outstanding shares on a fully-diluted basis.
2、按照2.94亿美元占股28%，估值仅10亿美元，相对昨天收盘价15美元市值7.34亿美元，溢价并不高