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What’s Going On With Alibaba Shares

Alibaba Group Holding Ltd – ADR (NYSE: BABA) shares are trading lower by 3.24% to $85.95 Friday afternoon. Shares of Chinese companies at large are trading lower amid global macro uncertainty following a bearish outlook from FedEx. A global recession could lower consumer discretionary spending at large.
byHenry Khederian
September 16, 2022
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Alibaba Group Holding Ltd – ADR (NYSE:BABA) shares are trading lower by 3.24% to $85.95 Friday afternoon. Shares of Chinese companies at large are trading lower amid global macro uncertainty following a bearish outlook from FedEx. A global recession could lower consumer discretionary spending at large.

What Happened?

FedEx issued preliminary results. The company said it now expects first-quarter revenue of approximately $23.2 billion and first-quarter adjusted earnings to be around $3.44 per share. FedEx has withdrawn its fiscal year 2023 earnings forecast.

The company expects business conditions to weaken further in the second quarter…Read More

See Also: So Is Dogecoin Heading Back to 5 Cents Or Making A Run To 10 Cents? Survey Says…

According to data from Benzinga Pro, Alibaba has a 52-week high of $182.09 and a 52-week low of $73.28.

 
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