Alibaba Group Holding Ltd’s American Depositary Receipts (ADRs), a key barometer for US investor sentiment towards Chinese tech giants, faced significant selling pressure during Thursday’s trading session. As of 1:55 PM EDT on April 28th, shares (commonly traded under the ticker BABA) were priced at $117.91 USD. This marked a considerable decline of $2.37, equivalent to a 1.97% loss for the day.
The intraday chart vividly illustrates the negative trajectory for Alibaba ADRs. The stock opened the session at $119.50, already below the previous day’s close of $120.28. Although it managed a brief push higher to reach a session high of $120.67 shortly after the opening bell, this upward momentum quickly faded. Sellers took control, driving the price steadily downwards through the morning hours.
This decline saw BABA breach the psychologically important $120 and $119 levels before finding an intraday low at $117.29 around midday. While the stock showed a slight upward drift from that low point into the early afternoon, reaching the $117.91 level, it remained firmly entrenched in negative territory and significantly below both its opening price and the prior close.
From a valuation standpoint, Alibaba continues to command a substantial market capitalization of $283.89 billion. The stock’s Price-to-Earnings (P/E) ratio stands at 17.26, a metric often scrutinized by investors evaluating profitability against share price. Alibaba ADRs also offer a dividend yield of 1.70%, providing a component of return for shareholders.
Placing today’s price action in a wider context, the current level of $117.91 is substantially lower than the 52-week high of $148.43, reflecting the broader headwinds and valuation resets experienced by many large-cap global technology stocks, particularly those based in China, over the past year. However, the price remains significantly above the 52-week low of $71.80, indicating some recovery from its lowest point.
The pronounced intraday drop and the failure to sustain levels above $120 suggest prevailing bearish sentiment for Alibaba shares during this trading session. Market participants are closely watching the price action around these lower levels, assessing whether support can be found or if further downward pressure will materialize as the trading day continues.
