BABA Stock: Why The Price Increased Today

By Amit Chowdhry ● Oct 20, 2021
  • The stock price of Alibaba Group Holding Ltd (NYSE: BABA) increased by over 2% pre-market today. This is why it happened.

The stock price of Alibaba Group Holding Ltd (NYSE: BABA) increased by over 2% pre-market today. Earlier this week, Alibaba saw a stock price increase after the company announced its own server chip. And now Alibaba co-founder Jack Ma has been spotted in Europe. This is Ma’s first overseas trip in more than a year. Ma is currently in Spain for an agriculture and technology tour. 

Back in October 2020, Ma had made a speech criticizing financial regulations in China. And his public appearances slowed down since then, leading investors to believe he was being disciplined by government regulators.

Alibaba was the subject of a tech company crackdown in China as well. And regulators in China blocked the planned IPO of Alibaba affiliate Ant Group. Investors believe that Ma’s trip to Europe is raising hopes that the clampdown against the company is easing.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.