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In the last 13 months alone, Alibaba and Tennessee have reportedly lost about $ 1 trillion in market value. This was reported by Bloomberg. Both companies have been facing a decline in market value since February 2021.
Chinese technology companies have reportedly collapsed due to measures taken by the Chinese government.
Giomi Corporation is reported to have lost about $ 56.1 billion in market value. The company ranks tenth among the top 10 Chinese technology companies that have lost market value. Alibaba and Tencent are in the top two.