Alibaba.com soars on magic carpet
Faith in the promised Chinese internet boom went fanatical today, with speculators sending new shares in ecommerce portal Alibaba.com rocketing almost 200 per cent in its first day of trading. The stock on offer opened in Hong Kong at $1.74, and closed at $5.15, having debuted 257 times oversubscribed. That makes for a market …
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Somewhere, somehow...
...this is all going to end in tears.
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