The company will have a number of speakers and presenters at the Gateway '17 conference in Detroit on Tuesday and Wednesday.
"Alibaba is a buy. Period. End of story," TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange Monday.
Alibaba has some of the greatest growth among any of the large market-capitalization companies. He pointed out that Alibaba is growing revenue at a robust pace, nearly hitting 60% growth last quarter alone. That's rather remarkable for a $340 billion company.
Even after the recent rally, investors can still justify buying the stock near current levels, he said.
Also consider this: Alibaba drives $20 billion in sales from grocery items. Now that Amazon (AMZN) - Get Reporthas agreed to buy Whole Foods (WFM) , imagine what it can with this under-penetrated segment, Cramer reasoned.
Alibaba's shares rose 3.4% to $139.49 at Monday's close.
Worried about how to pay for your golden years? Ken Fisher, founder of Fisher Investments, and TheStreet's Jim Cramer will tell you what you need to know in a June 21 webinar on the market trends that are shaping retirement planning today.Register here for the event, which starts at 11 a.m. ET.
Visit here for the latest business headlines.
Don't miss these top stories from TheStreet:
- Apple's Stock Rips Higher and These 5 Things Hint the Run May Not Die Anytime Soon
- Intel Just Got Smoked By AMD In the Race to Unleash a Super Chip
- One Analyst Just Explained What 650 Million People Using iPhones Means to Apple
- Amazon Could Pummel Walmart With One Whole Foods Brand
At the time of publication, Jim Cramer's Action Alerts PLUS had no position in any companies mentioned.