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
€109.40
-1.620%
With 47 Buy predictions and not a single Sell prediction Alibaba Group Holding Ltd ADR is an absolute favorite of our community.
As a result the target price of 164 € shows a positive potential of 49.91% compared to the current price of 109.4 € for Alibaba Group Holding Ltd ADR.
