Alibaba stock drops into the weekend as China opens food-delivery probe; what BABA traders watch next
New York, January 11, 2026, 11:18 (EST) — Market closed. Alibaba Group Holding’s U.S.-listed ADRs dropped 2.3%, closing at $150.96 on Friday. The decline came after China announced an investigation into aggressive competition among food-delivery platforms, drawing attention to the subsidy-heavy “instant retail” battle for one-hour delivery of products—from meals to over-the-counter medicine. Both Alibaba and rival Meituan said they…