“Alibaba shares fall 6% after the Chinese tech giant posts 86% drop in profit”
May 15, 2024
“…Net income attributable to ordinary shareholders came in at 3.3 billion yuan, down 86% year on year. Shares of Alibaba closed down 6% in the U.S. after falling as much as 8.1% in the first hour of trading…”
https://www.cnbc.com/2024/05/14/alibaba-baba-earnings-q4-2024.html
The longer I’m in the stock market the more I understand the businesses and the stocks are separate. I’m surprised it only dropped 6%.