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Both run huge online shopping platforms that connect merchants with shoppers and earn money from sales services and fees. Alibaba’s Taobao and Tmall and PDD’s Pinduoduo and Temu all fight for the same shoppers and sellers, especially for low-priced goods and heavy promotions.
As of Jun 23, 2026
For informational purposes only.
If you’re following Alibaba, today was another down day. The stock slipped about 2% to around $103, and it’s now down roughly 20% over the past month, sitting near the low end of its recent trading range. Trading volume was about normal, which points more to a steady “drip” of selling than a full-on panic.
In plain English: people are still hitting the sell button, but they aren’t stampeding. The price is now very close to a recent support area around $102. If that area holds over the next few days, it would suggest the sellers are finally running low on ammunition. A clear break below it with heavier trading would tell you the downtrend still has room to run.
Two big storylines are tugging on this stock right now.
First, the legal and political overhang. Alibaba just sued the U.S. Department of Defense to get itself removed from a list of so‑called “Chinese military companies.” Fact: the company is openly challenging that label and denying military ties. Interpretation: even if this lawsuit is Alibaba pushing back, the whole thing reminds investors that U.S.–China tensions and regulatory surprises are part of the package.
Nothing in the news says there were fresh sanctions or new penalties today, but the existence of that list – and the need to sue over it – keeps a cloud over how safe foreign ownership really is. For some investors, that’s enough to demand a lower price, regardless of how the business is doing.
