Alibaba Shares at Post-IPO Low After JD.com Tops Estimates
Alibaba Shares at Post-IPO Low
This article is for subscribers only.
Alibaba Group Holding Ltd. shares fell to their lowest level since debuting after rival online retailer JD.com Inc. reported better-than-projected earnings, fueling concern that Alibaba’s sales growth may be decelerating.
The shares of Hangzhou, China-based Alibaba declined 2.9 percent to $81.58 at the close in New York. Earlier, the stock fell to $80.03, the lowest price since the day after the company’s September initial public offering. JD.com shares fell