Alibaba Group Holding Ltd. (9988.HK) will host a virtual event, Go Global 11.11 Pitch Fest, that will help small- and medium-sized businesses test an expansion into China and other global markets. The event will allow select companies to participate in the blockbuster Singles Day shopping event, which generated $38.4 billion in gross merchandise value over the course of 24 hours in 2019, and receive advice and tools for selling on 11/11. Submissions must be received by September 4, and the virtual event will take place on September 15. Alibaba reported fiscal first-quarter earnings ( ) that beat expectations this week. Alibaba stock has gained 23% for the year to date while the S&P 500 index is up 5% for the period.
-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 21, 2020 10:05 ET (14:05 GMT)
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