What's Going On With Alibaba Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (BABA) stock is trading lower in line with Chinese ETFs IShares China Large-Cap ETF (FXI), KraneShares Trust KraneShares CSI China Internet ETF (KWEB) and IShares MSCI China ETF (MCHI). This is due to the ongoing agitation in China's broader sector amid government transparency regarding reforms to boost the economy after the intense regulatory crackdown and pandemic restrictions. Alibaba recently reported a 14% YoY revenue growth to $32.29 billion, beating the consensus of $31.20 billion. However, the company acknowledged the AI chips crisis hampering its ambitions.
August 14, 2023 | 12:47 pm
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to the ongoing economic reforms in China and the AI chips crisis.
The ongoing economic reforms in China and the AI chips crisis are negatively impacting Alibaba's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
IShares China Large-Cap ETF is trading lower in line with Alibaba's stock.
The ETF is trading lower due to the ongoing economic reforms in China.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
KraneShares Trust KraneShares CSI China Internet ETF is trading lower in line with Alibaba's stock.
The ETF is trading lower due to the ongoing economic reforms in China.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
IShares MSCI China ETF is trading lower in line with Alibaba's stock.
The ETF is trading lower due to the ongoing economic reforms in China.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60