“The long-awaited public market debut of the Alibaba Group, the Chinese Internet titan, did not disappoint on Friday, eclipsing every other company that has started to sell stock so far this year.
After pricing at $68 a share on Thursday night, Alibaba’s shares opened sharply higher on Friday and finished the day up 38 percent, at $93.89.
Alibaba, which raised $21.8 billion in its stock sale, instantly became one of the biggest publicly traded technology companies in the world.
Alibaba’s market value was about $168 billion. The combined market value of the other United States companies that have gone public this year is $180.5 billion, according to Standard & Poor’s Capital IQ, a research firm.”