Why Alibaba Stock Is Surging Today
Shares of Alibaba Group Holding (NYSE: BABA) were up nearly 9% as of 1:30 ET today, bouncing off the stock's 52-week lows it hit on Friday.
Investors seem to be breathing a sigh of relief over a plan by another Chinese stock that is going to delist from U.S. exchanges. Also, Alibaba announced a shake-up to its senior management team that garnered hope for improvement after a tough year. And a better macroeconomic forecast out of Beijing likely helped sentiment as well.
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Source Fool.com