Alibaba IPO Buzz Continues

By Derek Hunter

In September, Chinese e-commerce giant Alibaba listed on the New York Stock Exchange with great fanfare, sending its IPO price up 67% since. If you thought that excitement was overblown, well, you were wrong. This week more Alibaba news is dominating Wall Street: first, Alibaba is planning a massive $8 billion bond offering, and second, U.S. hedge funds’ required quarterly disclosures reveal that every big name money manager from Daniel Loeb to George Soros has taken a huge stake in Alibaba. Seems like Alibaba must be the investment of the century, since all of Wall Street never gets an investment wrong.