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Over the last 12 months, the Alibaba stock price has climbed a whopping 57%, while the Dow Jones Industrial Average is up just 7%.
Part of the reason is Alibaba’s expansion into the movie industry.
On Sunday, Alibaba Group Holding Ltd. (NYSE: BABA) announced a partnership with Steven Spielberg’s Amblin Partners. The partnership will help Amblin produce, finance, and distribute movies, according to The Wall Street Journal.
Money Morning Chief Investment Strategist Keith Fitz-Gerald made his regular appearance on FOX Business this morning and explained why this is a catalyst for the Alibaba stock price.
Here’s what investors need to know…
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