Alibaba's brief time as a public company hasn't been stellar.
Just a year out from their IPO, shares are trading well below Alibaba's initial opening price. The Chinese ecommerce giant began trading at $92.70 in September of 2014 and peaked at $120 less than two months later.
However, on Friday in midmorning trade, the stock was around $65.
Mark Mahaney, top internet analyst at RBC Capital, said Friday on CNBC's "Squawk on the Street" that he believes there are three reasons why.
"First, China has soured, second is that the numbers have come in a little bit for Alibaba versus where people thought a year ago," he said. "And then third, there's been some of these negative, kind of regulatory management issues that have kind of surfaced on the name."