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Alibaba Group Holding (BABA) Set A New High After Q1 Report

Alibaba Group Holding (BABA) reported first quarter earnings of RMB7.95 per share up from RMB4.83 per share last year. Revenues rose 56.1% to RMB50.18 billion from RMB32.15 billion last year.

Alibaba gapped open sharply Thursday, but traded in a range for the bulk of the session. The stock closed up by 4.42 at $163.92 on above average volume. Alibaba broke out of a 1-month trading range and set a new high for the year.

by RTT Staff Writer

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