Why Alibaba Stock Fell Another 14.4% in August
Shares of Chinese tech giant Alibaba Group Holding (NYSE: BABA) fell 14.4% in August, according to data from S&P Global Market Intelligence. Although Alibaba was the first large China tech company to be slapped with fines and regulations beginning late last year, the punishment continued in July, when it fell 13.9%, and into August, as the stock fell another 14.4%.
The culprits behind Alibaba's continued August malaise were an earnings report that missed expectations on the top line, as well as the continued, intensifying regulatory assault on China's internet giants.
Alibaba's stock has had a brutal summer. Image source: Getty Images.
Source Fool.com
