Alibaba Group Holding Limited (NYSE: BABA) has been performing exceptionally well lately, and it comes as no shock. After the Chinese government announced a major stimulus package, Alibaba’s stock shot up 29.04% in only one month, and the company has gained an impressive 30.06% over the past year. By Oct. 10, 2024, the company’s stock was trading at $109.28, with a whopping market cap of $261.723 billion.
So, what’s fueling this significant increase? Well, the Chinese government’s stimulus package is designed to get the economy moving, and as one of China’s biggest e-commerce players, Alibaba was bound to benefit. Investors are feeling optimistic about how Alibaba can benefit from…
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