$344 billion lost by Alibaba Group in world's biggest wipeout
Mon, Oct 25, 2021 3:48 PM

$344 billion lost by Alibaba Group in world's biggest wipeout

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Alibaba Group Holding, the technology titan of China led by Jack Ma has lost a whopping $344 billion in market capitalization -- the biggest wipe-out of shareholder value globally. Alibaba stocks plunged from an all-time high in October 2020 to a record low three weeks ago in Hong Kong, as Beijing stepped up its scrutiny of the company’s practices and urged a restructure of its fintech business.

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