Why Alibaba Stock Was Sliding Today
Shares of Alibaba (NYSE: BABA) were moving lower today as the Chinese tech giant reported just modest growth in its December quarter and a sharp decline in profits as it engages in a price war with rivals like JD.com and Meituan in areas like food delivery.
As a result, the stock was down 7.3% as of 11:39 a.m. ET.
Image source: Alibaba.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€106.00
-2.040%
The stock is an absolute favorite of our community with 45 Buy predictions and no Sell predictions.
With a target price of 159 € there is a positive potential of 50.0% for Alibaba Group Holding Ltd ADR compared to the current price of 106.0 €.
