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.
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