Why Alibaba Stock Soared on Friday and Why This Is Just The Start

By Neil Rozenbaum – Jul 7, 2023 at 5:33PM

NYSE: BABA

Alibaba Group

Market Cap

$183B

Today's Change

(1.25%) $0.95

Current Price

$76.50

Price as of April 29, 2024, 2:09 p.m. ET

A big overhang has finally been removed.

In this video, I will explain why shares of Alibaba (BABA 1.25%) were soaring on Friday and why this might be exactly what shareholders were awaiting for so long.

*Stock prices used were from the trading day of July 7, 2023. The video was published on July 7, 2023.

Neil Rozenbaum has no position in any of the stocks mentioned. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.