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Alibaba Surges 9% Ahead of Earnings, Baidu Gains 5% as Chinese E-Commerce and Tech Stocks Rally
24/7 Wall St.38d agobullish
Alibaba Surges 9% Ahead of Earnings, Baidu Gains 5% as Chinese E-Commerce and Tech Stocks Rally

Shares of Alibaba (NYSE:BABA) are up 9% to $106 and change in early Wednesday trading, leading a broad rally in Chinese internet and e-commerce names. Alibaba stock closed at $98.14 on Tuesday, and even after this morning’s pop the shares remain down 28% year to date. The move extends well beyond Alibaba. Baidu (NASDAQ:BIDU) shares ... Alibaba Surges 9% Ahead of Earnings, Baidu Gains 5% as Chinese E-Commerce and Tech Stocks Rally