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As we predicted earlier this week, Alibaba Group Holding Ltd. (NYSE: BABA) turned in a big showing in today's "Singles' Day" - smashing its sales record with ease and underscoring yet another reason we view this stock as a "must-own" wealth-builder.
Retailers using Alibaba's e-commerce retail platforms saw merchandise sales zoom 23% on a year-over-year basis - reaching $17.8 billion. In the first hour, orders were coming in 175,000 per second.
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