Alibaba (BABA) Shares Weaken Following Cautious Note

October 12, 2016 2:38 PM EDT
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Price: $104.07 +0.13%

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Weakness in shares of Alibaba (NYSE: BABA) Wednesday was tied to a report from 86Research that warned of weaker-than-expected Q3 revenue, according to Bloomberg.

Analysts said China's retail revenue decline in the September quarter indicates weaker-than-expected revenue for Alibaba. The report also said trend of traffic shifting from direct search to content-based curated channels on mobile Taobao mall cannibalized sales growth.

Alibaba declined as much a 3.2% but was set to close to day down only 1.7%.

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