Alibaba (BABA) price continues to struggle as regulatory crackdown intensity rises

Shares of Alibaba (NYSE: BABA) have failed to recover yesterday after closing over 13% lower on Thursday. Fundamental analysis: New actions from Beijing The People’s Bank of China said it had ordered Ant Group to address its regulatory breaches and revamp its credit rating business to improve the protection of user personal data. Alibaba holds a controlling stake of about 33% in Ant Group. The central bank’s move raised questions among some investors about whether Beijing is looking to break up the fintech giant as a part of their crackdown on internet giants in China.  Even though details remain undisclosed,