Alibaba Group Holding Ltd - ADR BABA shares are trading lower amid weakness in Chinese stocks due to concerns in the real estate sector.
Shares of Alibaba were trading lower throughout September and October amid continued China-based real estate company Evergrande uncertainty, which has weighed on the broader Chinese market. Investors continue to weigh the possible default of Evergrande.
The gaming, education and technology sectors have also been under regulatory pressure in China this year, which has driven volatility in the overall Chinese market.
Alibaba is the world's largest online and mobile commerce company, measured by GMV. It operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
Alibaba has a 52-week high of $311.44 and a 52-week low of $138.43.
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