Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Henry Khederian

Why Alibaba Shares Are Falling

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), are trading lower, possibly on continued weakness amid COVID-19 concerns in China, which have led to lockdown measures and caused economic uncertainty. 

The COVID-19 lockdown in Shanghai and other parts of China has weighed on the broader Chinese economy and Chinese stocks in April. The IMF also recently downgraded China’s growth forecast to 4.4% from 4.8%, citing pain from its coronavirus restrictions.

See Also: What's Going On With Meta Platforms Stock

Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume.
According to data from Benzinga Pro, Alibaba has a 52-week high of $239.22 and a 52-week low of $73.28.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.