Motley Fool
Why Alibaba Stock Was Sliding Again Today
Shares of Alibaba Group Holding (NYSE: BABA) were getting roughed up again today as the Chinese e-commerce giant continued to face pressure from government regulators and a series of events fueled speculation that Beijing was preparing for another round of crackdowns. On Monday, rumors swirled that Tencent, the WeChat parent, was also going to be caught in Beijing’s vise, and Bloomberg reported yesterday that the government called on state-run companies to reduce their exposure to Jack Ma’s Ant Group, continuing a vendetta against the Alibaba founder that began over a year ago when he criticized finance ministers at a public forum. There were no direct reports of any further regulation on Alibaba, but investors seem to have adjusted their expectations after there was some hope that the pressure would begin to alleviate this year.
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