Why Alibaba Shares Have Surged More Than 10% So Far This Week
Shares of Alibaba Group Holding (NYSE: BABA) were bouncing off their lows this week. As of this writing Friday morning, shares were 10.4% higher than their close last Friday.
"Change" seemed to be the word of the week for Alibaba and Chinese stocks broadly. Before this week, it seemed as if Alibaba's stock would go down forever, reaching its lowest point since 2017 last week. However, a management change was welcomed by shareholders, as was a dovish turn by China's central bank.
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