Alibaba Stock Surges on Upbeat Quarterly Results

Alibaba Group Holding Ltd - ADR (NYSE:BABA) stock is up 12.8% at $141.92 at last glance, after the China-based tech name saw quarterly profits rise thanks to strong cloud and e-commerce growth, beating estimates. The company also announced a 13% year-over-year sales jump, and surpassed revenue expectations for the fiscal third quarter.BABA yesterday snapped an eight-day win streak, but is now set to resume gains with its biggest single-day percentage gain since March 2023. Today's surge also places the stoc ...