Alibaba Stock Sinks as Profit Plunges on Investment Losses

Key TakeawaysAlibaba Group Holding's ADRs sank Tuesday after the Chinese tech giant posted an 86% plunge in fiscal fourth-quarter net income on the back of investment losses.Both quarterly net income and earnings per share were below forecasts.Revenue beat estimates as its core Taobao and Tmall online shopping businesses posted a 4% sales gain. American depositary receipts (ADRs) of Alibaba Group Holding (BABA) sank as the Chinese e-commerce giant's profit plunged on investment losses. Alibaba said its fisc ...