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What A Difference A Day Makes For Alibaba

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Alibaba Group Holding Ltd (NYSE: BABA) shares are trading higher by $4.00 at $125.27 in Friday's session. That is over $10.00 higher than its Thursday morning low at $114.00.

That low was made as some investors panicked after Alibaba's mixed Q1 report, which missed for EPS by $0.02 but beat on sales by $380 million.

The stock rebounded to close green on the day by $0.55 at $121.27. There isn't any relevant news to explain the nearly $3.00 higher opening print of $123.96, which has turned out to be only $0.30 off the low for Friday's session of $123.66.

The continuation rally has surpassed its former all-time high from Tuesday at $124.34, so far reaching $126.40 as 11:00 a.m. ET. Since that high, it has pulled back to the $125.00 area.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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