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Alibaba Group Holding (NYSE:BABA) shares are trading lower on Tuesday.
The shares of several Chinese companies are trading lower amid rising U.S.-China tech tensions after President Trump considered imposing export restrictions on Chinese chipmaker SMIC.
Alibaba is the world's largest online and mobile commerce company, measured by GMV (CNY 5.7 trillion/$846 billion for the fiscal year ended March 2019). It operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer). Alibaba's China marketplaces accounted for 68% of revenue in fiscal 2019, with Taobao generating revenue through advertising and other merchant data services and Tmall deriving revenue from commission fees.
Alibaba shares were trading down 3.85% at $270.55 in Tuesday’s session. The stock has a 52-week high of $299 and a 52-week low of $161.68.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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