BABA is trading 3.8% down at $101.01 after soft China 618 sales data highlighted cautious consumer spending and weaker e-commerce demand.
- Online 618 festival sales grew only 4% year-over-year, a sharp slowdown from the 15.2% growth recorded in 2025.
- Alibaba was among the major platforms cited as failing to spur significant consumer spending, pressuring overall investor sentiment toward the stock.