Alibaba Shares Slumped Down, Here’s Why?

Chinese company Alibaba has seen a fall of more than 10% in its shares. The company has announced the slowest growth in its annual revenue ever since 2014. The revenue growth rate for the last three months till September is 29%. It has also been claimed that the growth rate will be lower as compared to what analysts have forecasted.

One of the main reasons for the fall in its annual revenue is believed to be the fall in consumption as well. Consumers have been cautious about their spending events since the pandemic outbreak and the economical situations in the country. The Global Shopping Festival of Alibaba also showed fewer sales as compared to the past years.