Alibaba has three primary businesses and one of them being the consumer-to-consumer platform, Taobao.com. JD.com (JD) which is the primary domestic competitor of Alibaba in the e-commerce industry also released an app called Jingxi but the difference is that JD.com already has a reputation of being able to deliver items on the same day or day after and is trading at $42.25 going up by +$0.87, or by +2.10%.
Other than the negative competitive advantage Alibaba is facing, a data breach has surfaced with one of Indonesia's largest e-commerce platforms, Tokopedia, which SoftBank Group Corp Vision Fund and Alibaba (NYSE:BABA) are funding backed by 2 billion dollars.
Alibaba (NYSE:BABA) is going down by $3.33, or by -1.71% at $191.15.