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Power Play: Betting on Alibaba's growth in China

An Alibaba employee walks through a communal space at the company's headquarters in Hangzhou, China.
Peter Parks | AFP | Getty Images
An Alibaba employee walks through a communal space at the company's headquarters in Hangzhou, China.

Stocks have given up early gains, but the S&P 500 is still only about one percent away from its intraday high. In this narrow trading range, RDM Financial Group at HighTower Managing Director Ron Weiner tells CNBC's "Power Lunch" on Thursday investors have to be patient.

"Regardless of what investors pick, patience will be needed because anything can happen in this surrealistic negative interest rate environment," Weiner said.

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He also believes active management is important because you have to hunt for bargains in this market.

One company Weiner sees value in now is Alibaba. "Only about 5 percent of Chinese are buying goods online; Alibaba is very active and has lots of money to spend. They are in the earlier stages of enormous growth," Weiner said.

Alibaba is higher during trading, but is down 2 percent year-to-date.