Alibaba (BABA) shares experienced a significant drop, trading at $161.81 and falling 3.91% on February 03, 2026, despite the absence of major company announcements.
- The decline occurred amid broader market pressure, with the S&P 500 down 0.73% and the NASDAQ falling 1.29%, driven by concerns over the Fed Chair nomination and general AI sector weakness.
- Technical analysis suggests a long-term upside potential for the stock, targeting $192, primarily fueled by expected growth in its AI cloud segment.