Why Alibaba Stock Jumped Today
Shares of Alibaba (NYSE: BABA) were moving higher today after the Chinese tech giant posted better-than-expected results in its first-quarter earnings report, showing signs that its long malaise through a government crackdown and a sluggish Chinese economy may be coming to an end.
As of 12:57 p.m. ET, the stock was up 5.7% on the news.
Revenue growth in the quarter accelerated, increasing 14% to $32.3 billion, ahead of estimates at $31.2 billion, which was its fastest growth rate in several quarters.
Source Fool.com
Alibaba Group Holding Ltd ADR Aktie
106,20 €
5,15 %
Starke Bevorzugung von Alibaba Group Holding Ltd ADR in der Community mit ausschließlich Buy-Einschätzungen.
Das von der Community festgelegte Kursziel für Alibaba Group Holding Ltd ADR von 164 € impliziert eine deutliche Steigerung gegenüber dem aktuellen Kurs von 106.2 €.
