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Smooth debut for Alibaba after biggest U.S. IPO ever
Smooth debut for Alibaba after biggest U.S. IPO ever

Alibaba Group came out with a monster roar Friday as its shares began trading at $92.70, up more than 36% from its IPO price of $68. The rest of the day was relatively stable for the new stock, analysts said, falling a nickel below $90 for only a moment and peaking at nearly $100.  That surge on the New York Stock Exchange instantly raised the company’s total market value from $168 billion to more than $220 billion. Alibaba had raised $21.8 billion in its hotly anticipated IPO, the largest in U.S. history.  The $68 IPO price, set Thursday, cemented Alibaba at that time as at least the second-largest initial public offering in history, just behind Agricultural Bank of...

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