Why Shares of Alibaba, JD.com, and Dingdong Limited Are Falling Today
Chinese stocks struggled today as investors digested earnings results and remained concerned about economic conditions in the country.
Shares of large Chinese tech conglomerate (NYSE: BABA) traded 2.7% lower as of 2:35 p.m. ET today. Meanwhile, shares of another large Chinese tech and e-commerce company, JD.com (NASDAQ: JD), traded 5.7% lower, while shares of grocery delivery company Dingdong (Cayman) Limited (NYSE: DDL) plunged nearly 18%.
Dingdong reported its first-quarter earnings results today, which included a diluted-earnings-per-share loss of $0.02 on total revenue of roughly $727.7 million. Adjusted earnings came in at breakeven and were in line with analysts' predictions, while revenue missed estimates.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€74.90
0.270%
With 42 Buy predictions and 2 Sell predictions Alibaba Group Holding Ltd ADR is one of the favorites of our community.
As a result the target price of 109 € shows a positive potential of 45.53% compared to the current price of 74.9 € for Alibaba Group Holding Ltd ADR.
