Alibaba Stock Is Tumbling After a Wide Earnings Miss and Slashed Sales Outlook – Barrons

Alibaba stock was tumbling Thursday after the Chinese e-commerce giant’s quarterly results fell well short of expectations and the company cut its sales outlook for the full year.

U.S.-listed shares of Alibaba (ticker: BABA) fell 8.5% Thursday. The stock has declined around 35% this year amid a broad crackdown by Beijing on Chinese technology companies. Alibaba‘s Hong Kong-listed shares (9988.H.K.) slipped 5.3% Thursday ahead of earnings.

In…

Leave a comment

Your email address will not be published. Required fields are marked *