On May 21, Alibaba fell 4.08% in pre-market trading, trading at $129.02/share, with trading volume of approximately $14.44 million. The stock faced intensified selling pressure as multiple negative catalysts converged.
The decline was triggered by the disclosure that renowned investor Duan Yongping's family asset management firm, H&H International Investment, completely liquidated its Alibaba holdings during the first quarter. The 13F filing submitted to the SEC revealed that the fund, with total assets under management of approximately $20 billion, chose to exit Alibaba entirely while simultaneously increasing positions in NVIDIA, PDD Holdings, and establishing a new position in Tesla.
The selloff compounded existing pressure from Alibaba's disappointing FY2026 Q4 earnings released on May 13, which showed adjusted EBITA declining 84% year-over-year as massive AI infrastructure spending weighed heavily on margins. Revenue growth decelerated to just 3%, missing market expectations. Since the earnings release, the stock has declined over multiple consecutive sessions as investors engaged in profit-taking following an initial 8% post-earnings surge that quickly reversed.
(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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