Why Alibaba Fell Another 22.7% in November
Shares of Alibaba (NYSE: BABA) fell another 22.7% in November, according to data from S&P Global Market Intelligence. The company not only reported underwhelming earnings, but also sold off after China's Cyberspace Administrator asked another company to delist from U.S. exchanges, causing new worries for Chinese stocks like Alibaba that are also listed in the U.S.
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In the quarter ended in September, Alibaba grew revenue 29% and reported earnings per share of $1.74 per American depositary share (ADS). While that revenue figure seems like solid growth, both figures missed analyst estimates -- and earnings even declined amid higher costs. Furthermore, even that nice-looking revenue growth figure was bolstered by an acquisition. Absent that, revenue growth was only 16%.
Source Fool.com
