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Benzinga
Benzinga
Business
Anusuya Lahiri

Alibaba Stock Is Soaring Friday: What's Going On?

The Alibaba Trade

Alibaba Group Holding Ltd. (NYSE:BABA) stock climbed nearly 5% on Friday as investors rotated into consumer discretionary stocks and optimism around the company’s artificial intelligence investments added to the momentum.

The Consumer Discretionary sector gained 2.84%, outperforming the broader market, while the Nasdaq rose 0.15% and the S&P 500 added 0.16%.

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