$BABA +4.0% today — what's driving it?

Interesting move today for BABA. I'm wondering if this is a short squeeze or if there's actual news driving this.

It's barely holding its 50-day moving average. A few percentage points up doesn't feel like a 'hard move' for BABA, given its volatility. I'd be looking for more sustained momentum before considering it.

Ah, BABA, the stock that always reminds me that just when I think I understand the market, it throws a curveball. Four percent, you say? Perhaps it finally found that missing piece of the puzzle it's been looking for.