“Alibaba’s 80% Loss May Extend on Competition Worries”
February 8, 2024
“Investors looking for an end to the freefall in shares of Chinese e-commerce company Alibaba Group Holding Ltd. may be in for a long wait, if options traders are correct. The stock’s 75% tumble from a 2020 record high has driven its valuation to an all-time low…
A put contract betting the stock will drop more than 10% by the end of April was the most traded on Monday. Still, the shares climbed as much as 7% in Hong Kong on Tuesday amid some optimism for positive earnings, especially given the fact that the company moved forward its reporting date…”
https://finance.yahoo.com/news/alibaba-80-loss-may-extend-014511744.html
China is in the middle of a economic crisis. It’s not a good idea to be invested in anything Chinese in my opinion.