Alibaba shares are trading lower after the EU Commission reportedly opened an investigation into AliEexpress. The stock may also be down amid broader weakness in US-listed Chinese stocks.
Portfolio Pulse from Benzinga Newsdesk
Alibaba shares are trading lower following the EU Commission's investigation into AliExpress, amidst a broader decline in US-listed Chinese stocks.
March 14, 2024 | 5:58 pm
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Alibaba's stock is experiencing a downturn due to the EU Commission's investigation into AliExpress, compounded by a general decline in US-listed Chinese stocks.
The initiation of an investigation by the EU Commission into AliExpress directly impacts Alibaba, as regulatory scrutiny often leads to negative investor sentiment. This, combined with the broader weakness among US-listed Chinese stocks, suggests a short-term negative impact on Alibaba's stock price.
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