Alibaba stock plunges over 6% after Ant Group’s IPO suspension - Breaking The News

Alibaba stock plunges over 6% after Ant Group’s IPO suspension

3 November

1 min read

EPA-EFE/ALEX PLAVEVSKI

Stocks of Chinese multinational technology company Alibaba Group fell on Tuesday by more than 6% after its daughter company Ant Group’s record-setting initial public offering in Shanghai and Hong Kong was suspended.

The Shanghai Stock Exchange suspended Ant’s IPO just a day after four regulatory agencies summoned Alibaba’s CEO Jack Ma and the company’s top two executives to a closed-door meeting.

At 12:26 pm ET the stock price came to a monthly low falling 6.43% selling for $290.85.

alibaba Ant Group

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