Alibaba reached nearly 1 billion consumers in the second quarter, according to a healthy earnings report released on Tuesday. But it wasn’t enough to buoy the price of the China-based digital commerce and cloud services company’s North American listing in early morning trading. Alibaba’s American Depository Receipts dipped below $200 per share in early trading to $193.06, a 3.5% drop. The company’s ADRs are down significantly from the 52-week high of $319.32. ADRs for Chinese companies have struggled to hold their value in recent weeks following a crackdown on data privacy grounds that disrupted the $4.4bn IPO of ride-hailing firm...