On June 25, Alibaba fell 3.04% in regular trading to $95.47/share, with turnover of $567 million. The stock hit a new year-to-date low as its Hong Kong-listed shares breached the HK$2 trillion market cap threshold.
Multiple negative catalysts converged on the stock. SoftBank recently announced plans to divest the majority of its Alibaba holdings, while JPMorgan reduced its long position ratio from 7.17% to 7.11%, sending clear institutional selling signals. Separately, U.S. AI firm Anthropic submitted a letter to the U.S. Senate accusing Alibaba of conducting the largest known model distillation attack, alleging that operators linked to Alibaba used approximately 25,000 fraudulent accounts to conduct 28.8 million interactions with its Claude model between April 22 and June 5. Additionally, Alibaba confirmed it has filed a lawsuit against the U.S. Department of Defense seeking removal from the Chinese Military Companies List. The stock has now declined nearly 30% year-to-date amid broader Hong Kong tech sector weakness.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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