Alibaba Group Holding Ltd – ADR (NYSE: BABA) shares are trading lower by 2.5% at $148.50 amid continued volatility in Chinese stocks.
Shares of several Chinese companies are trading lower as the sector continues recent weakness amid ongoing regulatory concerns. The gaming, education and technology sectors have been under regulatory pressure this year, which has driven volatility in the overall Chinese market.
Shares of several Chinese companies are also trading lower as investors continue to weigh the possible default of major China-based real estate company Evergrande Group.
Alibaba is the world’s largest online and mobile commerce company. Alibaba operates China’s most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
Alibaba has a 52-week high of $319.32 and a 52-week low of $144.44.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
