Alibaba IPO: E-Commerce Giant Explodes In Debut

"In my over 20 years at the NYSE, I haven't seen anything like it." That was the reaction of an experienced trader on the floor of the New York Stock Exchange on Friday morning as Alibaba Group Holding Limited (NYSE:BABA) kicked off the U.S. markets at $92.70, a price 36% higher than its initial public offering price of $68 a share. It quickly jumped to $99. Hundreds of people gathered outside the building to catch a glimpse and snap photos of the e-commerce giant's founder and CEO Jack Ma, who ...