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Why Alibaba Shares Are Rising Today

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Why Alibaba Shares Are Rising Today

Shares of several Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE: BABA), are trading higher amid positive earnings from JD.com and Pinduoduo. Investors could be buying the dip following negative price action in the sector from regulatory concerns.

See Also: Is Alibaba Stock Finally Bouncing Back?

Alibaba is otherwise trading lower by 9.9% over the past month and lower by 30.9% over the past six months.

Alibaba is the world's largest online and mobile commerce company, measured by GMV (CNY 6.6 trillion/USD 1 trillion for the fiscal year ended March 2020). Alibaba operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).

Alibaba is trading higher by 7.3% at $172.88. Alibaba has a 52-week high of $319.32 and a 52-week low of $152.80.

 

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