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Why Alibaba Stock Is Rallying Today

The Motley Fool·
Why Alibaba Stock Is Rallying Today

Alibaba shares surged 11.2% on Wednesday, their best day in nearly a year, driven by optimistic analyst notes from UBS and Jefferies regarding strong expected Q1 results, particularly from cloud computing and AI businesses. The rally was also supported by a broad turnaround in Chinese tech stocks and a temporary court block on Pentagon military company designation.

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