BABA is trading at $152 (-4.24%) in pre-market, extending a two-day decline as broader market futures soften amid inflation concerns and AI spending worries.
- The stock closed down -3.40% at $158.73 on February 12, with no company-specific news to explain the continued downward momentum.
- Broader sentiment is being pressured by a -0.26% drop in S&P 500 futures and a -0.40% decline in the Nasdaq, though positive U.S.-China tech restriction news may provide a partial offset.