News Snapshot:
Chinese stocks are up sharply today and Alibaba (BABA) stock is up almost 27%. Why is BABA stock going up and should you buy it now? Meanwhile, despite the surge today, Alibaba is still trading with a YTD loss. Chinese stocks have been weak over the last year amid the country’s tech crackdown. As for BABA, it has been under pressure since the fourth quarter of 2020 after Chinese authorities blocked the IPO of Ant Financial. Why are Chinese stocks up today? Chinese stocks are up today after the state media reported that the country would soon end the crackdown...
