Alibaba Stock Near 52-Week Low: What’s Next?
- Date: 01-Dec-2021
- Source: Nasdaq
- Sector:Financial Markets
- Country:Middle East
Alibaba Stock Near 52-Week Low: What’s Next?
Alibaba (BABA) eroded its shareholders’ wealth in 2021 and underperformed the Nasdaq composite index by a considerable margin.
To be precise, shares of this Chinese tech giant have lost nearly 45% in value on a year-to-date basis (compared to 22.4% growth in the Nasdaq composite index) and are trading near the 52-week low.
The overall selling in Chinese tech stocks following the government’s increased regulations took a toll on Alibaba. Meanwhile, moderation in growth rate and increased competitive activity further remained a drag.
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