Alibaba Stock Today, November 21, 2025: AI Push, Jack Ma’s Return and a High‑Stakes Earnings Test
Alibaba shares fell 4.7% in Hong Kong to HK$147.60 on November 21, leading a tech sell-off as the Hang Seng Tech Index dropped 3.21%. In New York, Alibaba’s ADRs traded around $149.39 by late morning, down about 2.5% from Thursday’s close. Options activity was heavy, with a put/call ratio near 0.51 and 30-day implied volatility at 49. Jack Ma made a low-key visit to Ant Group’s Hangzhou campus this week.