November 11 is considered the world day of sales or Singles Day, when numerous online shopping platforms and stores offer their products at great discounts. The Chinese platform Alibaba uses this day annually, realizing a large amount of revenue on sales. This year, the company sold goods for 25.3 billion dollars. At the moment, this is a record amount of revenue for the last few years. By comparison, last year, on Sales Day the company earned 39% less.
Today, Alibaba stocks are expected to grow rapidly on the news, and over the past few days, stocks have increased by 2%. Trade will be available during the American session, from 14:40 to 21:00 GMT.
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