Alibaba's Stock Surges, Outperforming Competitors and Attracting Top Investors
Alibaba's stock rose almost 4% on Thursday after JPMorgan Chase analyst Alex Yao reiterated his buy recommendation and maintained a price target above the current closing price. The reasoning behind the move was not immediately clear, but it came amidst major developments for the Chinese e-commerce company, including the announcement of a new CEO for one of its core business units and the creation of a new asset management business. Alibaba also recently declared its first-ever annual dividend, keeping shareholders engaged and interested.
