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Actionable news in BABA: ALIBABA GROUP HOLDING LIMITED,

Here's Why Alibaba (BABA) Stock is Up Today

NEW YORK (TheStreet) -- Alibaba Group Holding (BABA - Get Report) shares are climbing 0.4% to $85.75 on Thursday as the Chinese e-commerce giant prepares for the world's biggest shopping day on November 11.

Known as Singles Day in China, the holiday was created by Alibaba in 2009.

Last year, the company made $9.3 billion in gross merchandise volume (GMV) on that single day, compared to rival JD.com (JD) who did not disclose its GMV but said it processed 14 million orders.

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As the competition between the two e-commerce companies heats up, the two are aggressively promoting their online platforms.

On Monday, JD.com filed a complaint with a Chinese regulator, State Administration of Industry and Commerce, accusing Alibaba of allegedly telling its merchants not to participate in JD.com's Singles Day promotions, the Wall...


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