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Why Alibaba Stock Bounced Back Today

Rich Smith, The Motley Fool
·2 min read
Why Alibaba Stock Bounced Back Today

Recovering from a three-day sell-off, shares of Chinese e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) stock bounced back on Thursday and are up 7.2% as of 11:11 a.m. ET. Alibaba's bounce back appears tied to a Bloomberg report yesterday that the company is "weighing options" to dispose of its 30% stake in Weibo (NASDAQ: WB), the "Chinese Twitter," and may sell its Weibo shares to "a state-owned firm." There are at least a couple of reasons why such a move could be good for Alibaba.

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