Alibaba Group Holding Limited (BABAF)
- Yahoo Finance Video
Alibaba stock trades lower on Morgan Stanley downgrade
Shares of Alibaba (BABA) began to slide on Friday after Morgan Stanley analyst Eddy Wang gave the company a downgrade from 'Overweight' to 'Equal weight,' cutting the target price from $110 to $90. The downgrade comes from doubts over the company's performance in its key businesses and the rise of Pinduoduo (PDD). Yahoo Finance Anchors Josh Lipton and Julie Hyman break down the latest development for the company and what it could mean going forward. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
- Motley Fool
Why Alibaba, JD.com, and PDD Holdings Stocks All Dropped Today
Investment bank Morgan Stanley shook up the market for Chinese e-commerce stocks Thursday evening, downgrading Alibaba (NYSE: BABA) in a research report on the industry, cutting its price target on JD.com (NASDAQ: JD), but naming PDD Holdings (NASDAQ: PDD) its top pick in the sector. Despite the bank having different opinions on the three different stocks, however, investors seem to have read only the negatives in Morgan Stanley's note -- and are selling shares in all three companies. As of 10:55 a.m. ET, Alibaba shares are down 2.9%, while both JD.com and PDD Holdings are off 1.9%.
- Reuters
Alibaba dips on MS downgrade as PDD grabs spot of most valuable Chinese e-commerce firm
Alibaba's stock slipped 3.2% to $72.5, touching a fresh one-year low. The shares are down nearly 17% since the company last month posted in line second-quarter revenue and scrapped plans to spin off its cloud business. Meanwhile, shares of PDD Holdings have surged this week following stellar quarterly results from the Temu parent.
