Shares of several retail & apparel companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), are trading lower amid continued COVID-19 omicron variant concerns, which have prompted travel restrictions in some nations and added to lockdown fears. Omicron concerns have also caused uncertainty amid the holiday shopping season.
Shares of several Chinese stocks, including Alibaba, were also trading lower last week as investors weigh Chinese economic data along with continued omicron variant concerns.
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Alibaba is the world's largest online and mobile commerce company, measured by GMV. It operates China's online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
Alibaba has a 52-week high of $274.29 and a 52-week low of $108.70.
