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Why Alibaba Stock Is Surging Today

TheMotleyFool

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Shares of Alibaba Group (NYSE: BABA) jumped 9.3% Monday after the Chinese e-commerce leader announced a regulatory settlement.

Alibaba was hit with a $2.8 billion fine as part of an anti-monopoly investigation. China's State Administration for Market Regulation (SAMR) found it to have restricted merchants from using competing platforms without justifiable cause. Regulators also instructed Alibaba to improve its internal controls to foster fair competition on its e-commerce sites.

Alibaba Group's stock rallied Monday. Image source: Getty Images.

Source Fool.com

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