Why Alibaba Stock Dived by Nearly 4% Today
An apparent effort at muscling into the e-commerce market of a neighboring country wasn't very impressive to (NYSE: BABA) investors on Thursday. They traded out of the Chinese online retailer's stock, to the point where its U.S.-listed shares closed the day down by 3.9%. In contrast, the slumping S 500 index shed only 0.3% of its value.
Nikkei Asia, quoting a report from South Korea's Yonhap News Agency, published an article stating that Alibaba is to invest $1.1 billion in that country. The intent is to establish a logistics network in order to compete with that country's e-commerce leader Coupang.
Alibaba will apparently leverage its ability to offer low prices, and with a strong logistics effort it will get goods to customers rapidly.
Source Fool.com
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