Alibaba stock has risen by a record-high 26% in the past two years, driven by strong demand for online shopping.
The firm has also become a popular place for people to trade stock options.
Alibaba stock has been gaining ground in the wake of a series of recent events, including a government crackdown on the company, which led to the suspension of a number of popular trading platforms.
The latest round of trading was conducted through Alibaba stock trading platform, a platform which has been used by hundreds of companies around the world.
Alibaba is owned by Chinese billionaire Jack Ma, who also owns the online shopping giant Amazon.com.
Ma has been vocal in his opposition to the Chinese government’s anti-trust efforts, arguing that the crackdown on Alibaba will make it less attractive for foreign investors to invest in the company.
Alibaba shares have also been soaring in recent months.
Last year, Alibaba stock was trading at around $20,000 per share, making it one of the top 10 most valuable stock options on the market, according to the website Seeking Alpha.
Alipay, an online payment platform, was listed at $2.6bn.
However, Alibaba has fallen short of its lofty valuation and is now worth just $1bn.
Alibaba stock rose by 27% in 2016, to $1.96.
Alibaba stock rose 11% in 2017, to nearly $3.4bn.
The company has also risen by 27.3% in 2018.
Alif Nasri, chief executive of Alipai, which is one of Alibaba’s biggest stock options, told Reuters that he expected Alibaba to rise more than 20% in 2019.
He added that the company’s growth could continue to accelerate as the company continues to innovate.
“We believe that we have been a leading player in the online retail space, and now we are looking to accelerate the momentum that has been built up over the last two years,” Nasri said.
Shares of Alibaba rose 2.3%, to $2,926.50 on the Nasdaq, the largest single-day gain in the S&P 500.
Alibaba is up more than 9% since the start of the year, and its market cap has jumped from $12bn to $35.7bn.