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Alibaba shares have had an excellent week because the stock looks cheap and investors are buying the big dip.
After losing almost 50% of its value in 2021—amid intensifying regulatory pressures and concerns around slowing growth—shares in the Chinese tech giant have climbed more than 9% since the start of 2022. That surge comes even as peers in U.S. tech have tumbled alongside rising bond yields and indications of tightening monetary policy.