Why Alibaba Stock Popped Again Today
No doubt about it -- this week has been a good one to own stock in Alibaba Group (NYSE: BABA).
So far, Alibaba has benefited from the revelation that Charlie Munger's investment company is buying up shares, as well as a Benchmark note arguing the stock is worth twice what it costs. Today, Alibaba got even more good news (of a sort) when JPMorgan lowered its price target -- but agreed with Benchmark that no matter how you measure it, Alibaba's stock price is still too low.
As of 11:45 a.m. ET, Alibaba shares are up 4.1% on the news, bringing the stock's gains for the week to more than 10%.
Source Fool.com