NYSE Composite opens in less than three hours and Alibaba's premarket value is already 7.16% down.
The last session, nYSE Composite ended with Alibaba jumping 0.14% to $256.18. NYSE Composite jumped 0.54% to $14,398.60, following last session's upward trend on what was a somewhat positive trend trading session.
Alibaba's last close was $255.83, 24.65% under its 52-week high of $319.32.
News about Alibaba today
China launches probe into Alibaba over monopoly allegations. According to today's article on Bloomberg Quint, "Alibaba representatives weren't immediately available for comment.", "Once hailed as drivers of economic prosperity and symbols of the country's technological prowess, Alibaba and rivals like Tencent Holdings Ltd. "
China targets jack ma’s Alibaba empire in monopoly probe. According to today's article on Bloomberg Quint, "The State Administration for Market Regulation is investigating Alibaba, the top antitrust watchdog said in a statement without further details. ", "Alibaba representatives weren't immediately available for comment."
: Alibaba shares sink in Hong Kong as China launches antitrust probe. According to today's article on MarketWatch, "BEIJING - Chinese regulators on Thursday announced an anti-monopoly investigation of e-commerce giant Alibaba Group, stepping up official efforts to tighten control over China's fast-growing tech industries.", "The market regulator said it was looking into Alibaba's policy of "choose one of two," which requires business partners to avoid dealing with competitors. "
Alibaba shares sink in Hong Kong as China launches antitrust probe. According to today's article on MarketWatch, "BEIJING - Chinese regulators on Thursday announced an anti-monopoly investigation of e-commerce giant Alibaba Group, stepping up official efforts to tighten control over China's fast-growing tech industries.", "The market regulator said it was looking into Alibaba's policy of "choose one of two," which requires business partners to avoid dealing with competitors. "
Alibaba selloff deepens as antitrust probe rattles investors. According to today's article on The Wall Street Journal, "The decline means Alibaba has now fallen more than 25% since a late October peak, when it was riding high ahead of a planned blockbuster listing of its financial-technology affiliate, Ant Group.", "The State Administration for Market Regulation said it was investigating complaints of potentially monopolistic behavior-like making merchants sell exclusively on Alibaba platforms-while China's central bank said it and other regulators had summoned Ant officials for a meeting."
Alibaba faces investigation in China pursuant to anti-monopoly law - quick facts. According to today's article on Business Insider, "Alibaba Group and its related companies operate leading wholesale and retail online marketplaces as well as businesses in cloud computing, digital media and entertainment, innovation initiatives and others.", "The SAMR has commenced an investigation against Alibaba pursuant to the Anti-Monopoly Law."
China launches an antitrust investigation into Alibaba as its crackdown on jack ma's tech empire continues. According to today's article on Business Insider, "In separate statements released Thursday, both Alibaba and Ant Group said they had been notified about the regulatory actions and would cooperate, per the Wall Street Journal.", "China's State Administration for Market Regulation (SAMR) is looking into Alibaba's practice of forcing sellers to sign exclusivity contracts, meaning they can't sell their products elsewhere, it said Thursday."
Beijing sends Alibaba an unwelcome Christmas present. According to today's article on The Wall Street Journal, "Specifically, the regulators mentioned the practice of forcing merchants to sell exclusively on Alibaba's platforms. ", " JD.com , Alibaba's competitor, has complained about it for years and filed lawsuits against the market leader. "
Alibaba falls 7% in premarket trading after Chinese regulators open antitrust investigation into the company. According to today's article on Business Insider, "This was the largest one-day drop in Alibaba's Asia-registered shares since mid-November, when Ant's IPO, which would have been the world's largest, was pulled at the last minute after China introduced stricter regulations for financial services.", "US-registered shares in Alibaba, an e-commerce platform founded by Ma, were down 7.1% at $238.02 in pre-market trading on Thursday. "
Alibaba's Sales
Alibaba's sales growth is 62.3% for the ongoing quarter and 66.4% for the next. The company's growth estimates for the current quarter is a negative 81.9% and positive 55% for the next.