Alibaba Group Holding Ltd (NYSE: BABA) reported a plunge of 86% in its profits for its fourth quarter 2023. This plunge was largely attributed to changes in the valuations of the equities in which it invested. Because of this dip in profit, the shares of the company slumped by nearly 6% on the New York Stock Exchange (NYSE), where the company is primarily listed.
It should be noted that the Q4 revenue exceeded estimates, though this didn’t stop share prices from…
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