Alibaba (BABA) Falls on Heating Competition in China [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: Yahoo! Finance
Alibaba Group declined by 3.85 percent on Wednesday to end at $103.83 per share as investor sentiment was dampened by the cut-throat competition between the company and JD.com in servicing the expanding online market in China. This followed JD.com's pledge on Wednesday to allocate some 10 billion yuan ($1.4 billion) to support so-called benchmark brands across various categories amid the growing daily orders in China, reaching a new high of over 200 million. The plan reflected JD.com's efforts to dethrone Meituan as China's top on-demand local delivery services provider, while also fending off competition from Alibaba Group Holding Limited (NYSE:BABA). Earlier this month, Alibaba and Meituan went on a promotional war, flooding the market with discount coupons that allowed consumers to buy at unusually low prices. An e-commerce platform displaying a wide range of products to customers online. The program was said to have pushed delivery riders to work on extended hours to me
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BABA
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BABA
Sec Filings
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