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The Street
The Street
By Brian O’Connell Corruption probe of party official hitting stock that’s already down sharply, Alex Frew McMillan notes. Long-suffering Alibaba stockholders have been hit again. Alibaba’s (BABA) – Get Alibaba Group Holding Ltd. Report Ant Group affiliate targeted by China’s government over a bribery scandal. The stock has fallen 9.4% since the news came out late last week. The stock has lost roughly 60% of its value since peaking in lat 2020. “Chinese state broadcaster CCTV aired a show last week providing details on a corruption probe into the Hangzhou party secretary, Zhou Jiangyong,” wrot…