I agree that $(BABA)$ share price shouldn't be this low, inspite of all the negative news during the past several months, because its fundamentals are strong. So even a small dent in its fortunes shouldn't have brought the price down so low. But then the market is always jumpy and irrational. So it dosen't matter what you and I think. When the herd is running toward a cliff, u can either get dragged down along with it or get out (of the way).