Alibaba Stock (BABA) Down Pre-Market as ReTest of Support Moves Closer
Alibaba’s stock price (NYSE: BABA) has faded over the past month, dropping 11.1% as some of the early year excitement has tailed off. This morning’s pre-market has BABA down a further 2.72%, moving the stock to $105, and closer to a potential retest of the psychological $100 support.
While the stock has added an impressive 27% since the start of the year, and 42% over teh past 12 months, the recent downturn raises questions about the sustainability of this upward trajectory and the factors influencing investor sentiment. There are various factors that have come to the fore in recent months that may have shifted sentiment somewhat, not least the complicated atmosphere between U.S and Chinese counterparts.
- Regulatory Concerns: U.S….
