The U.S. Securities and Exchange Commission said it has begun implementing new auditing standards of foreign companies, a move that some investors fear could ultimately lead to BABA stock being delisted from the NYSE. Incredibly, this is at least the third time BABA stock has dropped on the same news in the past year.
How much does Baba stock cost?
It is especially powerful given that it took place near major support and following such a significant selloff. It is costly to buy BABA stock outright at current levels. Just 100 shares would cost about $21,000. The options market, however, provides a way to be a buyer at even lower levels while collecting premium up front.
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