Alibaba (BABA) Stock Slides Sharply, Dipping Below $103 in Morning Trade
NEW YORK, USA – Shares of Alibaba Group Holding Ltd (NYSE: BABA) experienced a significant downturn during morning trading hours on the New York Stock Exchange Tuesday.
As of 11:14 AM Eastern Time (UTC-4) on April 11th, Alibaba’s American Depositary Receipts (ADRs) were trading at 1.71 per share for the day so far.
The intraday chart clearly illustrates a strong downward trend since the market opened. After starting the session higher, the stock price progressively fell, breaking below the $104 and $103 levels. This performance puts the current price well below the previous closing price of $104.12, indicated on the chart.
The sharp move downwards places BABA near its session lows as trading activity continues into the late morning. Investors are closely monitoring the stock’s performance following this pronounced dip in value. The trading activity reflects ongoing market dynamics affecting the major e-commerce and technology company’s US-listed shares.
