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Why Alibaba Stock Is Jumping Today

TheMotleyFool

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Shares of Alibaba Group Holding (NYSE: BABA) were running 7% higher at 10:32 a.m. ET Tuesday after J.P. Morgan upgraded the Chinese online retailer. The new rating on the shares comes just weeks after the investment bank had deemed Chinese technology stocks such as Alibaba, JD.com, and Tencent Holdings "uninvestable" for the next six to 12 months.

The negative view had come amid a mounting crackdown by Beijing that also threatened them with delisting. J.P. Morgan analyst Alex Yao said he didn't foresee change coming for some time, perhaps only as early as the end of this year.

Image source: Getty Images.

Source Fool.com

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