On May 21, Alibaba fell 3.02% overnight, trading at $130.41/share, with trading volume of approximately $51.35 million. The stock faced intensified selling pressure as multiple negative catalysts converged.
The decline was triggered by the disclosure that renowned investor Duan Yongping, through his family office H&H International Investment, completely liquidated his Alibaba position during Q1, as revealed in the fund's latest 13F filing with the SEC. H&H's total portfolio reached $20 billion, yet Alibaba was among several names cleared out, while Duan significantly increased positions in PDD Holdings and NVIDIA and initiated a new position in Tesla. Market participants interpreted the exit as a signal that Duan views PDD's growth thesis as more compelling than Alibaba's.
The selling pressure compounds an already fragile sentiment following Alibaba's FY2026 Q4 earnings released on May 13, which showed adjusted EBITA plunging 84% year-over-year, revenue growth decelerating to 3%, and heavy AI infrastructure spending compressing margins despite strong cloud and AI momentum.
(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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