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Alibaba’s stock pops amid bullish volume expectations

Arriana McLymore
Jack Ma, founder of Alibaba Group Holding Ltd.
Adam Jeffery | CNBC

Alibaba Group Holding's stock popped 3 percent on Tuesday after the company reported that it expects its transaction volumes to nearly double.

The company said it expects about $912 billion in gross merchandise volume by 2020.

These expectations come after years of concerns about counterfeit products on Alibaba's online platforms.

"I promise you guys that counterfeits, fake products, and intellectual property theft — we are more and more confident than ever that we can solve the problem," Executive Chairman Jack Ma said.

Despite Tuesday's jump, Alibaba shares were 4.3 percent lower this year

Alibaba 1-year performance

— Reuters contributed to this article.