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Why Alibaba Stock Just Popped 6%

·2 min read
Why Alibaba Stock Just Popped 6%
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Shares of Alibaba Group Holding Limited (NYSE: BABA) are bouncing back today from a historical sell-off that's seen the Chinese e-commerce titan's stock lose 30% of its value in just two months. As of 10:55 a.m. EST, Alibaba shares are up 6% off of yesterday's multi-month low. Suffice it to say that this is a curious development on a day when The Wall Street Journal just reported "regulatory risks" were extending a "Christmas Eve selloff" at Alibaba, and described how the canceling of a planned IPO of Alibaba's Ant Group subsidiary and an antimonopoly investigation in China have combined to cost Alibaba $273 billion worth of market cap in just a couple of months.