Alibaba Stock Loses $344 Billion in a Year in Historic Wipeout

Alibaba Stock Loses $344 Billion in a Year in Historic Wipeout
Jack Ma, CEO of Alibaba, speaks during his visit at the Vivatech startups and innovation fair in Paris, on May 16, 2019. Philippe Lopez/AFP via Getty Images
Benzinga
Updated:
In just a year, Alibaba Group Holding Limited has lost around $344 billion in market capitalization, the largest-ever decline in shareholder value globally, reports Bloomberg.

Last year, Alibaba founder Jack Ma faced summons from the Chinese authorities when they suspended the listing of Alibaba’s fintech arm Ant Group.