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Benzinga
Benzinga
World
Adam Eckert

Why Alibaba Shares Are Sliding Today

BABA Alibaba Alibaba Group Holding Ltd NYSE SEC

Alibaba Group Holding Ltd (NYSE:BABA) shares are trading lower Thursday alongside several Chinese companies amid renewed delisting concerns after the U.S. Securities and Exchange Commission widened its regulatory crackdown on U.S.-listed Chinese companies for not disclosing audit reports.

The SEC released a provisional list of 80 Chinese companies for pending non-compliance with audit requirements related to the Holding Foreign Companies Accountable Act (HFCAA). The companies that have been identified have up to 15 business days to contact the commision and provide evidence to prove compliance. 

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