Stock Movers Alibaba ADRs Fall, Novavax Rallies, Reddit Drops After Downgrade
May 19, 2025
Alibaba faces declining ADRs as scrutiny grows over its ties with Apple and its recent earnings woes. Meanwhile, Novavax sees a stock surge following FDA approval of its Covid-19 vaccine for at-risk adults, showcasing the volatile nature of the biotech market. In a contrasting trend, Reddit's shares dip after a downgrade from analysts who predict ongoing user disruptions due to shifts in AI features by Google. This highlights the ever-changing landscape of technology and market dynamics.
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Alibaba Faces Double Setbacks
- Alibaba's shares fell due to disappointing earnings and heightened U.S. government scrutiny of its AI deal with Apple.
- Enthusiasm around Alibaba leading the AI boom in Chinese e-commerce has cooled amid these setbacks.
Apple Impact from Alibaba Deal Delay
- The potential loss of the Alibaba-Apple partnership might hurt Apple more due to market expectations.
- The outcome of this deal could influence the tech landscape between the U.S. and China.
Novavax Vaccine Approval Boosts Stocks
- Novavax's shares soared after FDA approval for its Covid-19 vaccine aimed at older adults and those with medical conditions.
- This approval has boosted optimism in the vaccine sector after a challenging year.