Why Alibaba Stock Topped the Market Today
BABABABA(BABA) The Motley Fool·2024-08-22 06:27

A rival will have to do without the presence of a powerful foreign investor.On the back of bad news for one of its rivals, Chinese e-commerce company Alibaba Group Holding (BABA 3.07%) saw a bit of a bull run in its stock. The company's American depositary receipts (ADRs) rose more than 3% in price Wednesday, easily beating the 0.4% advance of the bellwether S&P 500 index.Sale completedThat rival is JD.com (JD -4.15%), which has lost a major American shareholder. In a regulatory filing, Walmart (WMT 0.94%) ...