|Bid||104.700 x N/A|
|Ask||104.800 x N/A|
|Day's range||103.500 - 106.700|
|52-week range||60.250 - 124.000|
|Beta (5Y monthly)||0.61|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||138.08|
KARACHI, PAKISTAN (Reuters) -Alibaba-owned e-commerce platform Daraz Group is reducing its workforce by 11% to prepare for the 'current market reality', Chief Executive Officer Bjarke Mikkelsen said. In a letter to its employees on Monday and shared on the company's website, Mikkelsen cited a difficult market environment, with a war in Europe, huge supply chain disruptions, soaring inflation, increasing taxes, and removal of essential government subsidies in its markets. The group operates in Pakistan, Bangladesh, Sri Lanka and Nepal.
(Bloomberg) -- Alibaba Group Holding Ltd.’s Daraz Group is cutting 11% of jobs to weather a slump in online commerce, joining a growing roster of tech names retrenching to weather a global downturn.Most Read from BloombergQuake Toll Hits 4,000 in Turkey, Syria as Overseas Aid FlowsTurkey’s South Hit by a Second High-Magnitude EarthquakeDell to Cut About 6,650 Jobs, Battered by Plunging PC SalesUS Moves to Recover Chinese Balloon While Weighing RetaliationChina Moves From Contrite to Confrontatio
Alibaba (BABA) closed the most recent trading day at $105.45, moving -0.83% from the previous trading session.