Why Alibaba Stock Was Sliding Today
Shares of Alibaba (NYSE: BABA) were moving lower today as the Chinese tech giant reported just modest growth in its December quarter and a sharp decline in profits as it engages in a price war with rivals like JD.com and Meituan in areas like food delivery.
As a result, the stock was down 7.3% as of 11:39 a.m. ET.
Image source: Alibaba.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€121.80
-2.250%
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