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Sep 19, 2014 5:50 PM

Alibaba Shares Surge On First Day Of Trading

Chinese e-commerce giant Alibaba opened at $92.70 a share on the New York Stock Exchange today, making it the biggest initial public offering in U.S. history.

The offering price for a share of the company was set at $68.

NPR's Zoe Chace, who is following the story, tells our Newscast unit:

"The nearly $93-a-share initial trading price shows that demand is really high for a piece of this company. It's that pop that brand-new public companies want. Makes the deal sexy, and more people want to get in on it. Why is it doing well so far? Alibaba is growing quickly.


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