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Alibaba Stock Tumbles on Further Chinese Government Crackdowns

September 14, 2021
Source: schaeffersresearch.com schaeffersresearch.com
News Snapshot:
JOIN OVER 100 THOUSAND MEMBERS AND START RECEIVING THE FREE DAILY EMAIL THAT COVERS EVERYTHING TRADERS NEED TO KNOW AHEAD OF THE OPENING BELL. Chinese tech concernAlibaba Group Holding Ltd (NYSE:BABA)is down 1.4% at $164.21 this morning, struggling after a Financial Times report claimed the Chinese government is looking to put a halt to Jack Ma's Ant Group's payments company, Alipay. BABA has not fared well on the charts since hitting its Oct. 27 record high of $319.32, now down 28.6% for 2021. Overhead pressure from the 30-day moving average has also been a factor in the stock's downtrend, as...
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Tags: Alibaba | Alipay | Ant Group | Chinese | chip | crackdown | email | finance | financial | government | Grab | Heading | international | Jack Ma | nasdaq | NYSE | online payment | online shopping | report | Security | stock | stock market | technology

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