Alibaba Group is trading 3% down now at $106.60 after continued investor concerns over its discounted share placement and ambitious AI investment program.
- Reuters reported that Alibaba priced HK$80 billion of new shares at HK$112.70 each.
- Investors are focused on stock dilution and execution risks.
- The broader market was flat-to-mixed, making company-specific placement overhang more relevant.