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Down 50% in a Year, Alibaba Is Not a Fun Magic Carpet Ride

Shares of Alibaba Group Holding (BABA), the Chinese e-commerce giant, have fallen for three days straight. Indeed, if you pull back the camera a bit and widen the lens, they’ve been falling much longer than that — down 50% since peaking last October, when the coronavirus was still ravaging retailers all around the globe, and only China seemed to have any semblance of control over the pandemic. And that’s why it’s such a crying shame that “China” is itself the reason Alibaba stock has been sinki

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