Glonghui, May 17 | The US stock market Alibaba (BABA.US) rose. At one point, it rose 4.34% to 90.46 US dollars during the intraday period, hitting a new high since September 2023. Alibaba closed up 7.53% to HK$85.7 in the Hong Kong stock market today. According to the news, according to documents submitted to regulators, billionaire investor David Tepper's hedge fund Appaloosa Management more than doubled its holdings in Alibaba in the first quarter. As a result, the Chinese e-commerce giant became the largest stock in its 6.7 billion US dollar stock portfolio. H&H International Investment LLC, an investment account managed by Duan Yongping, also increased its Alibaba shares by 886,000 shares. Scion Asset Management, the investment company of legendary hedge fund manager Michael Burry, the prototype actor in the movie “The Big Short,” increased its bet on Alibaba in the first quarter. According to US Securities and Exchange (SEC) filings, Alibaba became its second-largest stock with a total value of about 9 million US dollars. Also, Citron Capital posted a lot of songs about Alibaba on social media. Bank of America recently raised the target price of Alibaba's US stock from 99 US dollars to 103 US dollars, maintaining a “buy” rating.