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Why Alibaba's Stock Price Sank Despite a Solid Quarter


Last week, (NYSE: BABA) reported second-quarter results for its fiscal 2024, with revenue up by 9% and operating profit jumping 34% year over year. While the result wasn't mind-blowing, it was a solid improvement from last year.

Yet, shares of the Chinese e-commerce giant have tanked by more than 10% since its earnings announcement, indicating there are other issues investors are concerned about now. Let's look at the factors that might have caused the sell-off.

Image source: Getty Images.

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Source Fool.com

Alibaba Group Holding Ltd ADR Stock

€68.80
-1.150%
A loss of -1.150% shows a downward development for Alibaba Group Holding Ltd ADR.
The stock is one of the favorites of our community with 58 Buy predictions and 2 Sell predictions.
With a target price of 98 € there is a positive potential of 42.44% for Alibaba Group Holding Ltd ADR compared to the current price of 68.8 €.
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