Alibaba struggles to gain momentum in Chinese stock rally, lagging behind competitors.

From TradingView: 2024-05-13 00:09:00

Alibaba’s stock struggles to regain momentum on its 10-year IPO anniversary, up less than 5% this year compared to double-digit gains by rivals like Tencent.

Despite plans for hefty share buybacks and dividends, investors remain unconvinced as Alibaba lags behind Chinese stock indices and faces challenges from local competitors like Pinduoduo.

Alibaba focuses on AI, cloud investments, but stock trades below historical averages as CEO Eddie Wu works to restore investor confidence. Earnings report due on May 14 expected to show modest revenue growth.



Read more at TradingView: China stock rally leaves Alibaba out in the cold — TradingView News