There’s still ten days until the anniversary of Alibaba’s record breaking $25 billion USD NYSE IPO, but the honeymoon is well and truly over. 

The e-commerce giant is now grappling with a slowing Chinese economy. Shares slumped again today to an all time low of $60.45 USD following the announcement that second-quarter sales would fall below expectations. 

The company now expects their gross merchandise volume to fall in the “mid-single digits lower” range. Currently their shares are sitting at 89% of their original IPO price, falling from a peak of over 175% in November.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com