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Benzinga
Benzinga
Business
Melanie Schaffer

Why Alibaba Stock Looks Set To Soar Higher

Alibaba Group Holdings, Ltd (NYSE:BABA) opened lower on Wednesday but surged over 7% off the open at one point intraday to trade up about 3.8% off Tuesday's closing price.

The Chinese multinational technology company has found solid support near the $88 mark since Aug. 1, bouncing up from the area on multiple occasions.

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