Shares in Chinese internet retailer Alibaba plummeted by more than 11 percent during trading on Thursday, November 18. The company’s shares on the stock exchange fell from $161.58 to $143.03 per share (minus 11.49 percent). At 18:45 Moscow time, the shares traded at $143.57 per share.

The fall is due to the release of the quarterly report and the forecast for the next year. In the third quarter, the company’s revenue amounted to 200.69 billion yuan (2.3 trillion rubles), although experts predicted 204.1 billion (2.33 trillion rubles). In 2022, the IT giant expects the slowest revenue growth since entering an exchange in 2014 – by 20-23 percent.