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Why Alibaba Stock Was Sliding Today

Why Alibaba Stock Was Sliding Today

Shares of Alibaba (NYSE: BABA), the Chinese tech giant, were slipping today after it reported sluggish revenue growth in its March quarter earnings report. It also continued to make progress on its breakup plan, approving the spinoff of its cloud business. Alibaba continued to struggle with a challenging consumer environment in China as the e-commerce sector matures and it faces competition from Pinduoduo parent PDD Holdings and TikTok owner ByteDance.