Reported about 18 hours ago
Alibaba Group has seen its market value decline by $100 billion due to fierce competition in China's food-delivery market. The company's shares have fallen 28% since March, while rivals like JD.com and Meituan faced similar losses. Analysts predict Alibaba may incur losses of approximately $5.7 billion in this sector over the next year, prompting brokerages to downgrade price targets. Despite ongoing uncertainties and aggressive pricing wars, the stock remains viewed positively by many analysts due to its historically low price-to-earnings ratio.
Source: YAHOO