Alibaba (BABA.US) stock struggles for second straight session as the company is still under enormous regulatory pressure. On Saturday The People’s Bank of China ordered Ant Group to overhaul its business and comply with regulatory requirements. The move comes amid increased scrutiny of anti-monopoly practises in China. It is yet another hit for Alibaba as it owns a 33% stake in Ant Group - the world's largest financial technology firm company. Earlier China’s market regulator launched an antitrust probe into Alibaba Group. In response, the firm announced that it would increase its share buyback program to $10 billion from $6 billion. However, the decision did not ease concerns about company’s future - some slight selling pressure is still there. The stock has shed over 30% since October 27.
Alibaba (BABA.US) share price is trading slightly below the flatline at press time. Even though the stock bounced off an intraday low from December 24 ($211,19), the company still struggles with some selling pressure and buyers are not able to regain control. Source: xStation5
Intel: Solid Results, But the Market Says "Not Enough"
Gold approaches $5,000 as BOJ rides to rescue of bond market and UK retail sales rise
Meta Platforms shares surge amid Jefferies 'Buy' recommendation 📈
US Open: Rebound attempt on Wall Street 📈Meta Platforms surges 3.5%
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
