Shares of several Chinese stocks, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), are trading lower as traders continue to digest the economic consequences of China’s zero Covid policy.
The COVID-19 lockdown in Shanghai and other parts of China has continued to weigh on the broader Chinese economy and Chinese stocks in April. The IMF also recently downgraded China’s growth forecast to 4.4% from 4.8%, citing pain from its coronavirus restrictions.
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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 $239.22 and a 52-week low of $73.28.
