Alibaba
has reported its slowest quarterly revenue growth for at least three years as a faltering economy, increased competition and the suspension of its lottery business strain the Chinese ecommerce company.
In response, Alibaba’s shares fell 7 per cent to about $72 in New York, bringing them within sight of the $68 listing price and down from a peak of $119 reached in November. Its initial public offering in September was the largest ever.
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