I have put a limit order in for first day trading through etrade at 20% above the $68 IPO hoping it doesn't start over that. I'm not flipping. I've been waiting on Alibaba since about 2009 and bought YHOO back then because they owned over 40% of BABA at the time and I hoped it would pay off. They have since sold about 20% back to BABA which they regret now. I'm not as concerned as others about government issues. I've owned china based BIDU for years and it's gone from $31 (after 10/1 split) to $219 as of today.

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Posted by Northwestern tiger

Long Island NY

Member since Oct 2005

23485 posts

Posted on 9/18/14 at 9:09 am to jondavid11

quote:
etrade at 20% above the $68

Isnt that a little high?
how about making a market value trade? wouldn't it be better ?

This post was edited on 9/18/14 at 9:19 am

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Posted by Ole War Skule

North Shore

Member since Sep 2003

3409 posts

Posted on 9/18/14 at 10:29 am to jondavid11

quote:
I have put a limit order in for first day trading through etrade at 20% above the $68 IPO hoping it doesn't start over that

I put in for shares and assume I won't get any, so may do the same thing as a backup. My thinking though is the 20% limit won't get you any and it will open higher than that. Have to think this one over a bit...

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Posted by Blakely Bimbo

Member since Dec 2010

1183 posts

Posted on 9/18/14 at 10:30 pm to jondavid11

quote:
I've owned china based BIDU for years and it's gone from $31 (after 10/1 split) to $219 as of today.

Not worried about China based but not happy that stock holders will get no claim on the assets, or management decisions of Alibaba, but rather "Cayman Islands Contractual Rights".

It's the Jack Ma show, ladies and gentlemen, step right up and grab your "Cayman Island Contractual Rights". Too snake oil!