Alibaba’s Gains From Primary Listing Plan Wiped Out in Two Days

Alibaba’s Gains From Primary Listing Plan Wiped Out in Two Days

Euphoria surrounding Alibaba Group Holding Ltd.’s primary listing plan has evaporated in just two sessions, as focus shifts to the firm’s earnings announcement due next week.

Shares of the e-commerce giant slid 1.8% on Thursday, putting it back at levels seen before announcing it would seek the listing status. Goldman Sachs Group Inc. said the move may draw $16 billion of inflows into the company’s shares.

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