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
€107.40
-1.110%
The stock is an absolute favorite of our community with 44 Buy predictions and no Sell predictions.
With a target price of 161 € there is a positive potential of 49.91% for Alibaba Group Holding Ltd ADR compared to the current price of 107.4 €.
