Alibaba becomes an Olympic games sponsor

Chinese internet retailer Alibaba becomes an Olympic games sponsor. The company made an agreement with the International Olympic Committee and will join the ranks of the main sponsors, like Panasonic, Coca-Cola, and Visa. Alibaba will provide equipment for the games and take a part in the digital television popularisation project. Alibaba will invest about 600 million dollars and becomes a sponsor for six Olympic games till 2028.

From the begging of the month, Alibaba stocks increased by 7,8% and continue to grow. This is a great trend for traders. Trading will be available during the American session, from 14:40 to 21:00 GMT.

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