Why Alibaba Stock Got Slammed Today
Shares of Alibaba (NYSE: BABA) were taking a dive today after the company reported results that were mostly in line with estimates, but said it was abandoning its plan to spin off its cloud business due to new U.S. export rules.
That announcement seemed to dash investor hopes for the breakup plan Alibaba announced back in March. As a result, the stock was down 8.3% as of 10:11 a.m. ET today.
Image source: Alibaba.
Source Fool.com
Alibaba Group Holding Ltd ADR Aktie
108,80 €
-1,81 %
Klare Kaufempfehlung: Alibaba Group Holding Ltd ADR erhält nur Buy-Einschätzungen.
Für Alibaba Group Holding Ltd ADR ergibt sich mit einem Kursziel von 164 € eine mögliche Steigerung von über 50% gegenüber 108.8 €.
