On November 14, 2025, the Financial Times reported that a White House memo accused Alibaba of providing technical support and data access to the Chinese military, raising US national security concerns. Alibaba strongly denied these allegations, calling them unfounded. The news triggered a sharp decline in Alibaba's share price, closing at $153.80 (-3.78%) on November 14, 2025. Following the drop, the stock rebounded over the next several sessions, closing at $159.72 (+1.27%) on November 18, 2025. The recovery came as the company refuted the claims and no further punitive actions were announced. Investors remain focused on the upcoming quarterly results scheduled for November 25, 2025, while legal investigations into the matter continue.