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Benzinga
Benzinga
Business
Henry Khederian

What's Going On With Alibaba Shares Getting Hammered Today?

Alibaba Group Holding Ltd - ADR (NYSE:BABA) shares are trading lower by 11.06% to $97.69. Shares of companies across sectors are trading lower amid overall market weakness following worse-than-expected May U.S. CPI data.

The downward price action may also be due to China re-imposing COVID-19 restrictions just weeks after the nation lifted a strict lockdown in the financial capital.

According to Bloomberg, Beijing's local government said an outbreak linked to a popular bar is proving more difficult to control than previous clusters... Read More

See Also: Why Electric Last Mile Solutions Stock Is Plunging

Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume.

According to data from Benzinga Pro, Alibaba has a 52-week high of $230.89 and a 52-week low of $73.28.

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