Alibaba Group Falls 16%
(RTTNews) - Alibaba Group Holding Ltd (BABA) shares are sliding more than 16 percent on Monday morning. Chinese tech shares are falling today as the Chinese economy is declining and below the growth target.
Shares of Alibaba Group, the internet retail major, have been on a bearish trend for the last several days. Today, the company announced the start of the 14th edition of its global shopping festival featuring more than 290,000 brands. Currently, shares are at $60.44, down 16.26 percent from the previous close of $72.18 on a volume of 19,707,442.
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