Alibaba tomorrow morning

[gostraight]

Anyone in? what's your take?

[pksystems]

Annoying as hell when you do a google search.

[gostraight]

sure... so is amazon and ebay...

[Don Ro]

l'll be in. Look for this to be gang busters!

[PorscheGAL]

Saw a story about the CEO years ago. As a child, he would offer to show American tourists around Beijing if they would teach him some English. He has been working toward this his whole life.

[Don Ro]

I guess he started Alibaba in his apartment.
Heard that it's grounded in the Cayman Islands even though under the thumb of the Chinese Govt.
I remember it coming up in my Google searches several years ago. Seems they always had something for sale.
If I can get in at a decent price and it moves 30% = 50% by days end, I'll sell it.

[HardDrive]

Not trading yet, and its already $87! That over $200 billion market cap. Crazy.

I might throw some $ in and ride the opening day wave.

[biosurfer1]

Apparently he didn't get a job at KFC 6 months before launching Alibaba, which gave him the time/kick in the pants to start working on it....I'd say that was the best rejection for him ever.

[HardDrive]

Almost 2 hours after opening, not available. What a crock.

[Don Ro]

Originally Posted by HardDrive

Almost 2 hours after opening, not available. What a crock.

Really!
Only a few hundred million shares available.
Probably mostly bought up by insiders & houses.

[Rick Lee]

I did a few drop ship eBay deals with Ali Baba a few years ago, just to see how it all worked.

I read a good article the other day that foreign investors could get the short end of the stick in any dispute that ends up in a Chinese court.

[Craig T]

Doesn't anybody find this interesting that China allows no foreign ownership of Chinese companies...And that they had to set this up in the Cayman Islands in order to do the US IPO? Just what is it the stock represents? This is market making at it's best.

...Don't be the last one standing when the music stops!

[Gogar]

Ask is at 93 now, I'm going to wait.

[Craig T]

The executives and insiders do not have long-term restrictions on their pre-IPO shares. Most of these guys can start cashing out in 6 months.

It's up $25 already, at $93. If it was me....I'd wait until the froth blows off, then get the hell out before the insiders start dumping their shares at 30x-50x their baseline in six months.

This is "get rich quick" only for the insiders....Get much richer quicker I mean.

[KFC911]

Originally Posted by Craig T

....Don't be the last one standing when the music stops!

Ain't that the truth! No interest in buying, but just watched it for a few minutes. Lots of bid/ask at 1-3 shares (WTF ) then a 1000+ appears, then more 1-2 lots....Somebody's making some big $ (insiders and brokerages), but I'd rather roll dice.

Plus no waiting period for insiders to "dump"....ummm, no thanks!!!

[Craig T]

Originally Posted by KC911

....Somebody's making some big $ (insiders and brokerages), but I'd rather roll dice.

Plus no waiting period for insiders to "dump"....ummm, no thanks!!!

That's right! A few will become billionaires at the expense of 401K plans and super small investors. This is Wall Street at it's very worst. CNBC loves it though. Drives ratings and sells advertising. HOLY SH!# I'm sounding like a democrat!

[Rinty]

Originally Posted by Don Ro

Heard that it's grounded in the Cayman Islands even though under the thumb of the Chinese Govt.

I recently heard a CBC interview with some industry experts, and one of them said that Ma has very good relations with the government.

[Rinty]

Originally Posted by Craig T

A few will become billionaires...

The CBC is reporting that Ma gave the employees shares, and they stand to become instant paper millionaires.

They also reported that 20 billion worth of shares were purchased within minutes.

[techweenie]

Shares are trading and the holders at IPO prices are smiling. But what exactly does a share represent? It's really an instrument, not a share in the company, yes?