Alibaba Group Shares Gains 5%

Shares of Alibaba Group Holding Limited (BABA) are gaining over 5% on Tuesday morning. The stock seems to go up driven by the news that the e-commerce giant's e-commerce platform Taobao has conducted final tests before making its first metaverse live-streaming product debut.

BABA is currently trading at $90.10, up $4.44 or 5.19%, on the NYSE. The stock opened its trading at $87.85 after closing Friday's trading at $85.65. The stock has traded between $58.01 and $138.70 in the past 52-week period.

According to a report by the Chinese media outlet DSB, Taobao is conducting final tests before releasing its first metaverse live-streaming product. If everything goes according to plan, the project should launch online around the upcoming New Year's shopping extravaganza.

Alibaba Group provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in China and internationally.

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