Alibaba was declared as the bull of the day on Thursday's trading session. Its shares have surged to a record high and have consistently enjoyed growing values for six consecutive months. It was also revealed that the Chinese tech giant is due to an expansion in the cloud computing sector.

Last Thursday, Jack Ma's Alibaba was recognized as the bull of the day. During the trading session, it was revealed that the stock value of the company improved by 36 percent in the last six months and has topped the S&P 500 index with a 17 percent increase.

The report also showed that Alibaba may be expanding its reach to the cloud computing industry. It was also revealed that it is also due to enter the retail business and operate in China's cities as part of its middle-class expansion.

Furthermore, it was also reported that the company would venture into the logistics business. The move was perceived to help Alibaba grow outside of its Beijing and Shanghai markets. It was then estimated that its core commerce business had increased its stakes to 40 percent by the last quarter that accounted for 85 percent of its total sales.

At present, Alibaba controls two-thirds of China's e-commerce market as Taobao and Tmall. Moreover, about 1.4 billion enter the vital middle-class demographics of China every day and McKinsey estimated that the company could hit 550 million in population by 2022.

Last January 2020, the report claimed that Alibaba garnered 785 million monthly active users compared to last year's 30 million users only. The report then claimed that Alibaba wishes to diversify its financial portfolio in recent years.

Its segment improved by 64 percent that accounted for eight percent of its second-quarter revenue. Thus, the report claimed that Alibaba may also expand its cloud business to compete against powerhouses such as Microsoft and Amazon. The latter companies were said to have proved that the cloud business is a worthy investment for Alibaba.

The company's digital and entertainment business entities Youku and UCWeb was also reported to have improved by 23 percent by last quarter. In turn, Alibaba executives announced that there was a synergy between the entertainment and commerce industries since the Youku average daily subscribers rose to 47 percent.

Additionally, Alibaba would also diversify its financial portfolio with original content tailored for Chinese audiences. The report then suggested that the investors should note that Alibaba has a competitive the advantage in this market since its competitor US powerhouse Netflix does not operate in the region.

In other news, Reuters reported that SoftBank Group CEO Masayoshi Son would decrease its firm's 150 billion USD steak at Alibaba after a prominent activist investor Elliott Management opted for big buybacks.

However, the company said that it would not rush into selling down Alibaba shares. The report then claimed that the move raised questions about how the company could fund potential buybacks.