Why Alibaba Shares Are Falling
Portfolio Pulse from Henry Khederian
Alibaba shares are trading lower by 2.57% due to concerns over a COVID wave in China and its impact on the country's economic recovery. COVID infections in China could reach 65 million cases per week by the end of June, according to respiratory disease specialist Zhong Nanshan.
May 30, 2023 | 3:15 pm
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Alibaba shares are trading lower due to concerns over a COVID wave in China and its impact on the country's economic recovery. Infections could reach 65 million cases per week by the end of June.
The surge in COVID cases in China is causing concerns over the country's economic recovery, which directly impacts Alibaba's business. As a result, investors are reacting negatively, causing the stock price to drop.
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