Its eaier to short than long for this share
Alibaba Stock Drops. A Rival's Success Might Act as a Call for Action
When things are going badly for you, the last thing you want to hear is a neighbor talking about how well they're doing. That's roughly the situation Alibaba finds itself in with respect to Chinese internet peer PDD Holdings.Alibaba is struggling to reassure investors about its strategy after dramatically abandoning a plan to spin off its cloud unit, apparently hit by U.S. controls on chip exports.Alibaba ADRs were down 2.6% at $74.74 in premarket trading Wednesday, having fallen 13% this year through Tuesday's close.Meanwhile, PDD, the owner of the Pinduoduo and Temu retail platforms, is wowing investors with its strong revenue growth, especially in the U.S. and other international markets.PDD's ADRs were down 0.5% in premarket trading, having risen 18% on Tuesday following its third-quarter earnings. Its American depositary receipts were up 70% this year through Tuesday's close.The feeling of divergence between the two Chinese e-commerce giants was reinforced by a post by Alibaba fou
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