Alibaba Group Holding Limited (NYSE: BABA) Shares Plunge Amid Fears of Massive COVID Wave in China
On Thursday, the shares of Alibaba Group Holding Limited (NYSE: BABA) experienced a significant decline of 2.99%, closing at $78.78. The sudden drop is believed to be driven by mounting concerns over a potential resurgence of COVID-19 in China. Reports from CNBC indicate that China could witness a huge increase of 65 million new COVID …