Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR BABA, are trading lower, possibly on continued weakness amid COVID-19 concerns in China, which have led to lockdown measures and caused economic uncertainty.
The COVID-19 lockdown in Shanghai and other parts of China has weighed 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.
See Also: What's Going On With Meta Platforms Stock
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
