It is one week after one of the most highly awaited IPOs in history, and Alibaba has not disappointed.
After pricing shares at $68 each on September 18 and raising a record $25 billion the largest flotation ever the company began the first day trading at $92.70. Shares soon spiked to just under $100 a unit before closing the day at $93.89, a 38% rise in its debut.
Shares hovered around the $90 mark in the first week of trading, dipping to a low of $87 at one point. But they rose again to $90.57 on September 24 at the New York close.