Alibaba, One Year After IPO, Not The Giant It Seemed
One year ago, on Sept. 19, Alibaba Group (BABA) began trading on the New York Stock Exchange amid much fanfare, becoming the largest IPO of all time in terms of money raised — nearly $25 billion. But it’s proved to be a rough year for the stock. Demand for shares among institutional investors was “absolutely overwhelming,” said IPOboutique.com at the time. The stock priced at 68, the high end of an upwardly revised range, and the stock jumped 38%