New York, 6th March: Alibaba’s share price has plummeted to US$92, its lowest point since late 2016, and far down from its high of over US$300 in October 2020. The Group lost 16% of its value in February alone.

Analysts have been disappointed by its slowing growth and are worried by global political tensions and concerns about Beijing’s regulatory crackdown on China’s tech companies. There have also been persistent rumours that long-time shareholder, Softbank, was planning to sell its stake in the Chinese e-commerce giant.