What's Happened With Alibaba Shares
Portfolio Pulse from Henry Khederian
Alibaba Group Holding Ltd (NYSE:BABA) shares closed lower by 2.99% to $78.78 in Thursday's session due to concerns over a COVID wave in China. COVID infections in China could reach 65 million cases per week by the end of June.
May 25, 2023 | 8:25 pm
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Alibaba shares closed lower by 2.99% due to concerns over a COVID wave in China, potentially reaching 65 million cases per week by the end of June.
Alibaba's stock price dropped 2.99% due to concerns over a COVID wave in China. The surge in infections could negatively impact the Chinese economy and consumer spending, which would directly affect Alibaba's business and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100