Alibaba Group Holding’s stock tumbled 6.5% in premarket trade Monday, putting it on track to open well below its $68 IPO price for the first time. The Chinese e-commerce giant’s stock had climbed as much as 75% to close at $119.15 on Nov. 10, but trended steady lower since then, losing 43% to close at a record low of $68.18 on Friday. The stock was trading at $63.78 ahead of the open.
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