What's Going On With Alibaba Shares Getting Hammered Today?

Alibaba Group Holding Ltd - ADR BABA shares are trading lower by 11.06% to $97.69. Shares of companies across sectors are trading lower amid overall market weakness following worse-than-expected May U.S. CPI data.

The downward price action may also be due to China re-imposing COVID-19 restrictions just weeks after the nation lifted a strict lockdown in the financial capital.

According to Bloomberg, Beijing's local government said an outbreak linked to a popular bar is proving more difficult to control than previous clusters... Read More

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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 $230.89 and a 52-week low of $73.28.