Why Alibaba Stock Jumped Today
The rally in Alibaba (NYSE: BABA) stock continued today after the Chinese tech giant just announced plans to ramp up its spending on artificial intelligence (AI). That's been a winning approach for American tech stocks, so it wasn't a surprise to see Alibaba jump on the news.
As of 10:22 a.m. ET, the stock was up 9%.
Image source: Alibaba.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€125.40
-2.340%
The stock is one of the favorites of our community with 45 Buy predictions and 1 Sell predictions.
With a target price of 157 € there is a positive potential of 25.2% for Alibaba Group Holding Ltd ADR compared to the current price of 125.4 €.
