Why Alibaba Stock Popped Today
Shares of Alibaba (NYSE: BABA) climbed 5.5% on Tuesday after reports surfaced that the Chinese e-commerce titan's founder was not, in fact, missing.
After multiple news outlets noted that Alibaba founder Jack Ma had not been seen publicly since October, when he criticized Chinese regulators for stifling innovation, speculation erupted regarding his whereabouts. That speculation died down, however, after CNBC reported that Ma was not missing and was simply "lying low for the time being." The news helped ease investors' concerns that Chinese regulators were planning to come down hard on Alibaba in retaliation for Ma's comments.
Alibaba's stock rallied on Tuesday. Image source: Getty Images.
Source Fool.com
