Shares of Alibaba (BABA) have been red-hot lately, climbing more than 3% Monday and 13% over the past month. Shares are up more than 58% in 2017 alone.

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) has 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.

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At the time of publication, Jim Cramer's Action Alerts PLUS had no position in any companies mentioned.

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