[{"_1":2,"_91":-5,"_92":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_80":81,"_88":83,"_89":67,"_90":68},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":-5,"_34":35,"_36":37,"_47":48,"_73":74,"_75":76,"_77":78,"_79":32},"documentId","wm3cpb0x007def0k9j8ml3xb","title","Alibaba Shares Plunge Most Ever after Monopoly Investigation Announced","slug","alibaba-shares-plunge-most-ever-after-monopoly-investigation-announced","excerpt","Alibaba Group Holding’s U.S.-listed shares plunged 13.3% to $34.18 on Dec. 24, after news broke that the e-commerce giant will be investigated by anti-trust regulators. ","content","\n

Alibaba Group Holding’s U.S.-listed shares plunged 13.3% to $34.18 on Dec. 24, after news broke that the e-commerce giant will be investigated by anti-trust regulators.

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The drop marks the largest ever daily percentage decline since the company started being traded publicly in 2014. It also represents a 30% stumble from its October peak.

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Alibaba said in a statement on Dec. 24 the company has received a notification from the State Administration for Market Regulation (SAMR) that an anti-monopoly probe was underway and that they will “actively cooperate with the regulators on the investigation.”

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Although details have not yet been disclosed about the anti-monopoly watchdog’s investigation, Alibaba mentioned that all company business operations remain normal.

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Ant Group, the company’s financial spin-off, was summoned for talks with top bank officials about fair market competition, as well as customer rights and interest protection.

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The sprawling expansion of Jack Ma’s tech business empire has been stymied since November when Ant Group’s IPOs were halted.

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Jack Ma has not made any public appearances since he delivered the speech at the second Bund Finance Summit in Shanghai, where he stressed the importance of a healthy financial system as well as financial regulatory reforms in China, days before the scuttled $37 Ant IPO.

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Previously, Alibaba Investment had been fined 500,000 yuan by the SAMR due to anti-trust violations. And Ant Group’s Huabei, a digital interest-free lending platform popular among the Chinese Gen-Z, has cut the credit limit for some young users.

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Tag: #Alibaba*

Alibaba Shares Plunge Most Ever after Monopoly Investigation Announced