Alibaba Earnings Aren’t Bad but the Stock Is Plunging. Here’s What to Like.

Alibaba stock tumbled Thursday after the Chinese tech giant released quarterly earnings. There were some bad spots in the results, including anemic revenue growth, but that wasn’t entirely to blame for the selloff.

Shares in Alibaba (ticker: BABA) fell 6.5% in U.S. premarket trading. The group’s Hong Kong-listed stock (9988.H.K.) dropped 6.7% before the results were released. Investors can blame the rest of the market for Alibaba’s pain: Stocks around the world have plunged as investors reacted to major conflict in Europe…