Tag Archives: baba

Baidu, Other China Tech Stocks Sink As Alibaba Rises

China-based e-commerce leader Alibaba Group (BABA) surged in its first day of trading after a record-breaking U.S. IPO, but it didn’t bring many other China Internet stocks — friends or foes — with it. Alibaba was up 35%, near 92, in afternoon trading in the stock market today. But Weibo (WB) stock was down a fraction, near 21. The China microblog, nicknamed “China’s Twitter (TWTR),” debuted at 17 in its April IPO and had touched an all-time high

Video: Alibaba Group Stock Soars In Blockbuster IPO Debut

Investors clamored for Alibaba Group (BABA) stock Friday, buying shares above 92 at the opening, up 35% from the IPO’s starting price of 68. The China e-commerce giant initially sold 320.1 million shares to underwriters and institutional investors lucky enough to get in on the initial public offering. The stock priced Thursday evening at the high end of its expected range, which had been hiked, raising a U.S. IPO record $21.8 billion. That gave

Demand For Alibaba Stock ‘Absolutely Overwhelming’

Research firm IPO Boutique said that its channel checks reveal, according to underwriter guidance, that the Alibaba Group IPO has “absolutely overwhelming demand.” The demand suggests that the stock will likely price near, or above, the high end of the already increased range of 66-68. Alibaba (BABA) is slated to price its shares late Thursday and begin trading Friday on the NYSE under the BABA ticker. It is positioned to set an IPO record,