The stock closed up 14.28%, or $2.87, to $22.97, just less than its new high. It hit a low of $20.25 for the day.
Losing a job is always tough, but these pink slips were particularly explosive.
Alibaba's earnings showed accelerating growth and soaring profits for its core Chinese marketplaces. That leaves markets unfazed by the losses the company's growth initiatives are racking up.
Jack Ma's company is expected to report earnings on Jan. 24 before market open.