Alibaba is up after buying a big stake in China's largest grocer (BABA)

Alibaba is rising after buying a major stake in a Chinese grocer.
The move echoes Amazon's purchase of Whole Foods for $13.7 billion earlier this year.
Watch Alibaba's stock move in real time.Shares of Alibaba are up 2.33% to $189.45 on Monday after the company bought a $2.87 billion stake in China's largest grocery operator.
Alibaba said on Monday it would make an investment in Sun Art Retail Group, which owns 8.2% of China's total grocery market.
The move is reminiscent of Amaz