Just when it seems like things can't get any worse for Alibaba Group (NYSE: BABA), POW! Things get worse.

Alibaba Group's former CEO and current head of cloud computing Daniel Zhang is leaving the company. No specific reason has been offered for his exit either, making the announcement all the more unsettling for investors.

The stock's apparent rebound effort that's been underway since October was undermined following the announcement, with share prices sliding back and now sitting about 72% below their late-2020 peak. Lower lows could be in the offing.

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Source Fool.com