Alibaba Stock, https://t.co/L1k1xim1H5 Drop. It’s Not Just Down to Soft China Retail Sales. https://t.co/VlUIdsYCSa
Alibaba Shares drop by up to 4% after reports that Trump administration has raised concerns over Apple’s potential deal with Chinese technology firm https://t.co/o1yFOIFA0E
$BABA - U.S.-LISTED SHARES OF ALIBABA DOWN 1.9% PREMARKET AFTER REPORT OF US SCRUTINY OF COMPANY'S AI DEAL WITH APPLE
Shares of Alibaba Group Holding Limited (BABA) declined notably following reports that the Trump administration has raised concerns over a potential artificial intelligence (AI) partnership between Alibaba and Apple Inc. (AAPL). The scrutiny has led to a drop of up to 4.8% in Alibaba's Hong Kong-listed shares and a 1.9% decline in its U.S.-listed shares during premarket trading. The reports, initially published by The New York Times, indicate that the Trump administration is reviewing the deal due to national security and regulatory concerns. This development adds to the challenges Alibaba faces amid already soft retail sales in China.
