Why Alibaba Stock Spiked on Friday
Alibaba (NYSE: BABA) stock jumped more than 7% in early trading on the NYSE Friday, before turning tail and giving back nearly half its gains. As of 11:05 a.m. ET, shares of the Chinese e-commerce and technology giant are still up 4.1%. The question now is:
Does Alibaba stock deserve to stay up even this much? Because today's wild ride in Alibaba stock appears to derive entirely from competing rumors regarding Chinese artificial intelligence wunderkind DeepSeek.
You'll recall that DeepSeek roiled stock markets across the U.S. last week, after rolling out R1 and V3 large language models that appear able to outperform the best LLMs that OpenAI, Anthropic, and even Alphabet have to offer.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€111.60
2.200%
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