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Benzinga
Benzinga
Business
Melanie Schaffer

A Look At Alibaba As Rival E-Commerce Giant Amazon Prepares To Print Q2 Earnings

Alibaba BABA Amazon e-commerce NYSE

Alibaba Group Holdings, Ltd (NYSE:BABA) gapped up over 3% higher on Tuesday, where the stock ran into a group of sellers who pressured it down to almost completely fill that empty trading range.

The premarket boost was due to news Alibaba intends to apply for a primary listing in Hong Kong, but intraday the China-based tech giant was being pressured lower by the general markets, which saw the S&P 500 trading down about 0.7%.

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