Alibaba Group Holding Ltd's shares surged by more than 40 percent in their first day of trading as investors rushed to buy them in what looks likely to be the largest IPO in history, lifting the Chinese online retailer's value to $244bn.
In early trades at the New York Stock Exchange, after the record public share offering, Alibaba leapt from an opening price of $68 to nearly $100 and, while it dropped back, was still up some 38 percent at $94.08 after 10 minutes.
This is the biggest IPO the world has ever seen, so there's a celebratory mood on the floor, whether you like it or not.
The company's initial public offering, which should be a record if underwriters exercise their option to sell more shares, will help fund Alibaba's expansion in the United States and elsewhere.
http://www.aljazeera.com/news/americas/2014/09/china-alibaba…
Ebay must be quaking in their boots, no wonder they've been bribing us with special deals lately.
Not buying it, might crash after a few months, way too much hype.