Alibaba Stock Hits 52-Week Low Amid Broad Market Selloff

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2026-06-24 05:48:02

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Alibaba Group Holding Ltd. (BABA) shares tumbled to a fresh 52-week low of $101.73 in premarket trading, extending losses as risk-off sentiment gripped global markets. The 3% decline mirrored heavy selling across tech stocks, with Nasdaq futures dropping 2.38%.

No company-specific catalysts drove the move. Chinese ADRs and large-cap tech names bore the brunt of the selloff. Technical indicators paint a bleak picture—the stock now trades 31.6% below its 200-day moving average, with RSI plunging to oversold territory at 23.33.

Notably, Alibaba's semiconductor unit T-Head tripled its registered capital to 1 billion yuan ($148M), signaling continued investment in core technologies. Analysts maintain bullish long-term views, with average price targets sitting 84% above current levels at $189.

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