Alibaba added to SEC’s delisting watchlist, shares fall

Alibaba Group Holding Ltd on Friday became the latest company to be added to the U.S. Securities and Exchange Commission’s list of Chinese companies that might be delisted.

Alibaba’s shares were down 11% at $89.37 at the closing bell, ending the month 21.4% lower. The e-commerce giant’s shares were already feeling the pressure after reports suggested Ma was planning to cede control of financial technology firm Ant, an affiliate of Alibaba.