Alibaba prices IPO at $68/share, valuing the company at $168B

[bill]

http://dealbook.nytimes.com/2014/09/18/alibaba-raises-21-8-billion-in-initial-public-offering/ [dealbook.nytimes.com]

Alibaba Raises $21.8 Billion in Initial Public Offering

The Alibaba Group, the Chinese Internet juggernaut, raised nearly $21.8 billion in its initial stock sale on Thursday, as investors flocked to buy a piece of the company that is poised to continue dominating China’s burgeoning e-commerce industry.

[engine]

Following up on this, it seems the shares have soared. I was surprised there wasn't more talk about these shares prior to floating. Perhaps that's why the shares have soared.

Alibaba Group Holding Ltd. surpassed Facebook Inc. by market capitalization on its first trade as a public company for a valuation of more than $200 billion.

Alibaba reached $228.5 billion in market value after surging 36 percent above its initial public offering price to $92.70 per share. The Chinese e-commerce company now trails only Google Inc., Apple Inc. and Microsoft Corp. in size among U.S.- traded technology companies. Facebook, the world’s largest social network, passed $200 billion in market value earlier this month and is worth $199.3 billion today. Alibaba Passes Facebook in Market Value on First Trade [bloomberg.com]

[blend27]

Between this and GBP jumping back up on Scotland`s Big "No-No", someone must be in very a good mood...

But at $92.70, from the get go per share, how many people can afford to buy this stock? and Who is this stock for? Outside of some fat cat circles... anyone?

I am sure it will go up more in a near future, one does not have to be a rocket scientist to see the bubble, but then again...