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Alibaba stock under pressure amid HQ move reports

Yahoo Finance Live’s Rachelle Akuffo discusses the decline in stock for Alibaba following rumors that the e-commerce company is moving its headquarters to Singapore, despite the company denying reports.

Video transcript

RACHELLE AKUFFO: All right, time now for our Trending Ticker. Shares of Alibaba Group under pressure after reports surface that the China-based company is planning to move its headquarters out of the country to Singapore. Now, the group has since denied the reporting and stated that its headquarters would remain in the East of Mainland China, adding that the Singapore facility would house regional operations. The stock there go down almost 5%.