TRENDING:

US NFP

GBP/USD

BABA Stock News: Alibaba Group Holding retreats for second consecutive day

NYSE:BABA fell by 0.74% on Thursday as Chinese ADRs pulled back.
AliBaba pledges to spend $15.5 billion towards ‘common prosperity’ in China.
Ark Invest sells its final shares of AliBaba from its various ETFs.

Stocks Reporter FXStreet

NYSE:BABA snapped its three-day win streak on Thursday as its recovery from the recent sell off stalled. Shares of BABA fell by 0.74% during the session, and closed the day at $172.00. The move came as the S&P 500 and NASDAQ once again eked out fresh new all-time highs, and the Dow rallied for its first positive day of the week. After climbing higher the past few sessions, Chinese ADRs pulled back today, with PinDuoDuo (NASDAQ:PDD) lagging the sector as shares dropped 3.81% during trading hours and nearly 5.0% in after hours trading.

Stay up to speed with hot stocks' news!

AliBaba is the latest company to ‘pledge’ a large sum of money to China in the name of ‘common property’. The company has agreed to pledge the equivalent of $15.5 billion by 2025, which is meant to improve economic inequality amongst citizens. Other companies that have already pledged money to President Xi Jinping’s initiative include Tencent and Geely Automobile. AliBaba is also planning to set up a common prosperity development fund worth over 20 billion yuan. Whether this is seen as supporting the nation or paying off the government for the recent crackdown, investors will be watching to see if this is the end for the government’s scrutiny of AliBaba.

BABA stock price target

Take these signs for what they are worth, but Ark Invest has sold off the last of its position in AliBaba across all of its ETFs. This doesn’t necessarily mean that Ark is done with AliBaba as the company closed out its position in PinDuoDuo only to re-add the stock after it dipped. Catherine Wood has been known to avoid uncertainty, so it may just be a temporary move until things have stabilized in China.

Like this article? Help us with some feedback by answering this survey:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD holds around 1.1750 after weak German and EU PMI data

EUR/USD maintains its range trade at around 1.1750 in European trading on Tuesday. Weaker-than-expected December PMI data from Germany and the Eurozone make it difficult for the Euro to find demand, while investors refrain from taking large USD positions ahead of key employment data.

GBP/USD climbs above 1.3400 after upbeat UK PMI data

GBP/USD gains traction and trades in positive territory above 1.3400 on Tuesday as the British Pound benefits from upbeat PMI data. Later in the day, crucial data releases from the US, including Nonfarm Payrolls, Retail Sales and PMI, could trigger the next big action in the pair.

Gold retreats from seven week highs on profit-taking; all eyes on US NFP release

Gold price loses momentum below $4,300 during the early European trading hours on Tuesday, pressured by some profit-taking and weak long liquidation from the shorter-term futures traders. Furthermore, optimism around Ukraine peace talks could weigh on the safe-haven asset like Gold.

US Nonfarm Payrolls expected to point to cooling labor market in November

The United States Bureau of Labor Statistics will release the delayed Nonfarm Payrolls (NFP) data for October and November on Tuesday at 13:30 GMT. Economists expect Nonfarm Payrolls to rise by 40,000 in November. The Unemployment Rate is likely to remain unchanged at 4.4% during the same period.

NFP preview: Complex data release will determine if Fed was right to cut rates

The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

BABA stock price target

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025