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Benzinga
Benzinga
Business
Henry Khederian

What's Going On With Alibaba Shares Getting Hammered Today?

Alibaba Alibaba Group Holding Ltd

Alibaba Group Holding Ltd - ADR (NYSE:BABA) shares are trading lower by 11.06% to $97.69. Shares of companies across sectors are trading lower amid overall market weakness following worse-than-expected May U.S. CPI data.

The downward price action may also be due to China re-imposing COVID-19 restrictions just weeks after the nation lifted a strict lockdown in the financial capital.

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