What Happened to Alibaba (BABA) This Year?
(NYSE: BABA), the largest e-commerce and cloud infrastructure company in China, has shed about 60% of its value since it closed at a record high of $307.84 on Oct. 27, 2020. The bulls retreated as the company faced fierce regulatory, competitive, and macroeconomic headwinds.
China's antitrust regulators slammed its e-commerce business with a record fine and shackled it with tighter restrictions in 2021. Those setbacks eroded its defenses against aggressive competitors like PDD and JD.com. As for the macro environment, the sluggish growth of China's economy after the pandemic curbed consumer spending and drove many companies to rein in their spending on the company's cloud-based services.
Image source: Getty Images.
Source Fool.com
Alibaba Group Holding Ltd ADR Aktie
130,40 €
-1,81 %
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