Why Alibaba Stock Is Rising Today

Shares of the China-based technology conglomerate Alibaba Group (BABA 4.49%) were gaining ground on Monday after the Chinese government said yesterday that it would implement a plan to boost consumer spending in the country.A significant part of Alibaba's business is focused on e-commerce, so the Chinese government's move could help boost the company's growth. Investors were optimistic about the opportunity and pushed Alibaba's stock up 4.8% as of 11:56 a.m. ET today A new plan for economic growthChina's go ...